COLUMBUS, OH – On American Diabetes Alert Day, Sherrod is continuing to fight to cap the cost of insulin and lower prescription drug costs for all Ohioans. Sherrod wrote legislation that lowered the cost of prescription drugs, including capping the cost of insulin at $35 for seniors on Medicare. Sherrod also led the fight to pass the Know the Lowest Price Act, which was signed by President Trump and made sure pharmacists can tell seniors how to save more money.
Read more about Sherrod’s fight to reduce the cost of insulin and lower prescription drug costs below:
Ohio Capital Journal: “Our seniors are depending on the savings from the Inflation Reduction Act. Thanks to… Democrats in Congress – including Senator Sherrod Brown and Congresswoman Joyce Beatty – millions of seniors will no longer be forced to choose between putting food on the table and affording the medications they need to survive.”
Cleveland.com: Medicare announces first 10 drugs for price negotiation: Is your prescription on the list?
Sabrina Eaton – August 29, 2023
- The Department of Health and Human Services noted that people with Medicare are already saving an average of $70 in out-of-pocket costs on vaccines like shingles and Tdap because the Inflation Reduction Act made recommended vaccines free for beneficiaries starting this past January. The legislation also capped insulin costs at $35 per month for nearly 4 million seniors and others on Medicare.
- U.S. Sen. Sherrod Brown, a Cleveland Democrat who led efforts to let Medicare negotiate directly with pharmaceutical companies, applauded release of the drug list.
- “Big Pharma fought us every step of the way, but today we’re finally taking a major step forward in lowering prescription drug costs for Ohioans and making sure that older Ohioans can both afford their lifesaving medications and keep more of their hard-earned money for retirement,” said a statement from Brown.
Columbus Dispatch: Letter to the Editor: Insulin cost too high for too long
Sherrod Brown – May 2, 2022
- The cost of insulin and prescription drugs has been far too high, for far too long…
- Corporate price-gouging and decisions by shadowy pharmacy benefit managers (PBMs), combined with misguided policy written by politicians in the pockets of Big Pharma companies, have pushed drug costs higher and higher for Ohio families.
- I’m working to cap out-of-pocket insulin costs for all Americans, and have fought for years to crack down on price-gouging, allow Medicare to negotiate with drug companies for lower prices, and cap annual price increases.
- Pharmacy benefit managers are also part of the problem, and I’ve worked on legislation to increase transparency, and successfully pushed the administration to do more to control PBM fees.
Ideastream Public Media: Senator Sherrod Brown wants a New Law Regarding Prescription Prices
June 14, 2017
- Ohio’s Sherrod Brown and fellow Democrat Kirsten Gillibrand of New York are introducing a bill in the U.S. Senate aimed at blunting sharp rises in drug prices.
- Senator Brown says keeping the costs of all medications affordable is the goal, but especially for common and widely needed drugs like insulin. The bill calls for pharmaceutical companies to report price increases, and then justify them. “Many of these companies are not investing in something new and innovative. They’re simply buying the rights to existing drugs from other companies. Then they lay off workers, and they hike prices by eight fold or nine fold, or tenfold.”
- Brown calls that price gouging and the bill spells out penalties for drug companies found guilty of it. “You should pay a fine proportional to the price hike. Any revenues collected through the bill would be invested in future drug research and development through the National Institutes of Health.”
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