Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Press Release

Today’s Drug Pricing Deal is a Modest Victory for Seniors — and the First of Many Defeats for Big Pharma

WASHINGTON -

The following is a statement from Alex Lawson, Executive Director of Social Security Works:

“Today, Democrats announced a deal to give Medicare the power to negotiate lower drug prices as part of the Build Back Better package. While the pharmaceutical corporations were able to use their money to limit the number of drugs Medicare can negotiate on, this is still an important victory for seniors, who will now get to keep more of their earned Social Security checks. It’s also the biggest defeat Big Pharma has ever suffered — and it won’t be the last.

Once this deal becomes law, no Medicare beneficiary will pay more than $2000 a year for prescription drugs. Additionally, pharmaceutical corporations won’t be allowed to raise the prices of their drugs faster than the rate of inflation. This will protect both Medicare beneficiaries and people with private insurance from getting price gouged by Big Pharma.

Furthermore, this plan will protect the lives and livelihoods of Americans with diabetes. It will give the government the power to negotiate a lower price on insulin, and to cap out-of-pocket insulin costs for Medicare beneficiaries and people with private insurance at $35/month.

Not only will this deal save money for seniors, the Medicare program will also save millions of dollars a year. Congress should use those savings to add dental, hearing, and vision benefits to Medicare, which voters rank as their #1 priority for Build Back Better.

Congress must swiftly pass the Build Back Better Act, including these drug pricing provisions, into law. Americans can’t wait any longer for lower prices at the pharmacy counter.

This deal is an important starting point, and we’re only beginning to fight. We will fight for executive actions that do more to lower drug prices, including shortening exclusivity periods and limiting the criteria for exclusivity. We will fight for another reconciliation package next year that lowers the Medicare eligibility age. We will fight to eliminate the filibuster and expand Social Security’s modest benefits. And we will win.”

###

Social Security Works' mission is to: Protect and improve the economic security of disadvantaged and at-risk populations; Safeguard the economic security of those dependent, now or in the future, on Social Security; and Maintain Social Security as a vehicle of social justice.

Amid Existential Threat to Reproductive Rights, Congress Urged to Act

"It's the 49th anniversary of Roe v. Wade, and if we don't fight like hell it could very well be the last," said one campaigner, who called on U.S. lawmakers to pass the Women's Health Protection Act.

Brett Wilkins ·


Black Mississippi State Senators Stage Walkout as Critical Race Theory Ban Passed

"We cannot continue to stumble into the future backwards," said one Black senator who taught for 33 years. "That's what this bill does."

Brett Wilkins ·


Buddhist Monk and Peace Activist Thích Nhất Hạnh Dead at 95

"He inspired so many good people to dedicate themselves to working for a more just and compassionate world."

Jessica Corbett ·


Draft Order Shows Trump Considered Using Military to Seize Voting Machines

"This was part of the records that Trump was fighting to keep from the January 6th committee," one government watchdog noted.

Brett Wilkins ·


Groups Warn US Lawmakers Against Fueling 'New Cold War' With China

A policy of hostility toward Beijing, says a global justice advocate, has "become a convenient excuse for pushing a corporate, militarist agenda."

Jessica Corbett ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo