Mike Levin: “American consumers should have access to reasonably priced medicines. That seems like such a simple and reasonable…”

“American consumers should have access to reasonably priced medicines. That seems like such a simple and reasonable statement to make, yet it is a bold one to make in this Congress. Drug prices should be a central part of the debate. I firmly believe we must do two things relative to prescription drugs (1) add a prescription drug benefit to the Medicare program and (2) address the high price of drugs. It is the second issue that the bill I am introducing today with Senator Bryan seeks to address. The Prescription Drug Price Anti-Discrimination Act provides that when a prescription drug manufacturer has a policy that discriminates against U.S. wholesalers by charging them more than it charges foreign wholesalers, a 10 percent discriminatory profits tax would be imposed on that manufacturer. This 10 percent discriminatory profits tax will be dedicated to Part A of the Medicare trust fund. This legislation does not attempt to control drug prices. The manufacturer may charge what it chooses to a foreign wholesaler or a U.S. wholesaler. But if the manufacturer does not have a non-discriminatory pricing policy, the discriminatory profits penalty kicks in.”