On the recordJuly 22, 2020
Madam President, before I speak, several of my colleagues on this side of the aisle, over the next several minutes-- well, probably for more than a half hour--will be coming to the floor to discuss what I am discussing, which is a very important problem we have of rapidly increasing drug prices. After I speak, these other Senators will come to the floor: Senator Braun, Senator Cassidy, Senator Collins, Senator Hyde-Smith, Senator McSally. All of these people have been very favorable in support of the Prescription Drug Reduction Act, and I want to thank them for participating in bringing attention to this very important issue of unjustified increases in drug prices. After these folks I just mentioned speak, I understand that my colleague from Iowa, who is in support of the legislation, is going to come at a later time today. So thank you to my colleagues. According to a recent Gallup poll, 9 out of 10 Americans are concerned about prescription drug prices. Specifically, they are concerned that the pharmaceutical industry will take advantage of the current pandemic to increase drug prices. That poll was published a month ago. Unfortunately, those concerns have become a reality now. Two weeks ago, POLITICO reported that pharmaceutical companies have raised prices on hundreds of prescription drugs just during the pandemic. The report says that there have been more than 800--800-- price increases just this year.…





