Political Quotes

“Madam President, as a leading advocate for lower drug prices in the Senate, No. 1, I have hauled Big Pharma and pharmacy benefit managers' executives before my committee of Congress; second, I led a 2-year bipartisan investigation into insulin price-gouging; and three, introduced bipartisan reforms to lower the cost of insulin and many other prescription drugs. In the past few years, legislation I have championed into law has saved the taxpayers $9.6 billion. Right now, the Senate is not acting on bipartisan legislation to lower drug costs. I support a bipartisan plan by Senators Collins and Shaheen that establishes a $35 out-of-pocket cap on insulin for patients with private insurance while also reforming PBMs, the powerful middlemen who are behind rising drug prices. If you don't address PBM reform, a cap on out-of-pocket costs will only result in shifting patient costs somewhere else. In my 2-year bipartisan insulin investigation, we found that a drug's list price is tied to rebates and other fees that drug companies have to pay the PBMs. The scheme encourages drugmakers to spike the list price of the drug to offer a greater rebate. And then do you know what happens in turn? Secure priority placement on a health plan's list of covered medications. We have to hold PBMs accountable, then, if you really want to lower prescription drug costs.…”