Kaptur secures report on prescription drug pricing in Appropriations Committee
Washington, D.C. – Congresswoman Marcy Kaptur (OH-09) yesterday secured a report requiring the Center for Medicare and Medicaid Services to provide information on prescription drug prices to the Appropriations Committee within 120 days of enactment. Four Republicans voted for the measure, joining every Democrat.
“This is a reasonable step to get the information and data we need to provide a good breakdown on prescription drug pricing across Medicare, Medicaid, and the Department of Veterans Affairs,” said Kaptur. “We asked for this report three years ago but the agencies did not deliver the data we needed. As Americans face the pressure of ever-rising drug prices, it is my view that we must act as soon as possible to address this crisis and provide the American people with relief. I thank our bipartisan coalition for supporting this report, and I look forward to sharing its findings with my colleagues as we continue our work to lower drug prices for the American people.”
The vote occurred during the lengthy markup of the Labor, Health and Human Services, and Education funding bill. Watch Kaptur and Ranking Member of the Labor-HHS-Ed Subcommittee, Congresswoman Rosa DeLauro (CT-03) speak in favor of the amendment by clicking here.
The Amendment will require CMS to report on the following:
- Drug prices per enrollee for 10 most utilized drugs and 10 most costly drugs.
- A breakdown of the 10 most utilized drugs and most costly drugs between ambulatory (hospital) and retail.
- Under Part D, a breakdown of rebates paid to pharmacy benefit managers (PBMs).
- Total annual prescription drug costs to each program.
- Drug price and total spending in each program for drugs approved by the FDA in the last 5 years that have largely benefitted from federal grants or research subsidies.
Last year, Kaptur and Congressman Mark Pocan (WI-02) introduced H.R. 2974, the Stop Price Gouging Act in the U.S. House, a companion bill to an effort led by U.S. Senator Sherrod Brown (D-OH). The bill holds pharmaceutical companies accountable and protects consumers from egregious year-after-year price spikes and large, unjustified single price spikes companies use when they reach the end of their patent life or are looking for a quick increase in revenue. Learn more about the Stop Price Gouging Act here.