AARP Launches Campaign to Lower Prescription Prices

Nearly three-quarters of Americans over 50 worry about being able to afford prescription drugs for themselves and their families, according to a new AARP nationwide survey. Across the political spectrum, these older adults overwhelmingly support policies that could lead to lower prices, including making it easier to develop new generics, allowing Medicare to negotiate prices and requiring drugmakers to explain how they set their prices.

The survey results are being released in conjunction with the launch of AARP’s national campaign to convince federal and state lawmakers to curb the out-of-sight prescription drug prices. The “Stop Rx Greed” campaign will promote AARP’s four solutions to runaway drug costs.

• Stop price gouging by allowing Medicare and states to use their vast buying powers to negotiate for lower drug prices and allowing state attorneys general to take legal action against drug manufacturers for excessive drug price hikes.
• Increase access and affordability of prescription drugs by capping out-of-pocket costs for consumers, expanding the availability of state pharmaceutical assistance programs, allowing states to safely import prescription drugs from other countries and protecting a recent Medicare improvement that helps beneficiaries with high  prescription-drug  costs.
• Close loopholes that allow drug manufacturers to delay or even block the development of lower-cost generics, and ban deals that allow pharmaceutical companies to pay generic firms not to bring a competing product to market.
• Support laws that promote transparency by requiring drugmakers to justify dramatic price increases.

“Americans are paying the highest prescription drug prices in the world,” says Nancy LeaMond, AARP executive vice president and chief advocacy and engagement officer. “It’s time for pharmaceutical companies to stop deflecting blame and acknowledge that the root cause is the price they set for their products.”

AARP’s survey clearly shows that concern over prescription drug prices crosses all party and ideological lines.
 

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Among all respondents older than 50, 72 percent said they were very or somewhat concerned about being able to afford the drugs they need for themselves or their families. And 90 percent or more of likely Democratic, Republican and independent voters said it should be easier for generic drugs to come to market and that Medicare should be allowed to negotiate with drug companies for lower prices.