Burgess Owens: “H.R. 4954, the Republican Pharmaceutical Industry Protection Act, is a cruel and unusual joke perpetrated against the…”

“H.R. 4954, the Republican Pharmaceutical Industry Protection Act, is a cruel and unusual joke perpetrated against the senior citizens of America. The Republicans are preoccupied with the goal of the prescription drug manufacturers which is to maintain the highest possible prices and profits in America. Without operating at a loss in foreign markets, these drug companies sell their products at much lower prices. They sell at lower prices because foreign government negotiators refuse to pay exorbitant prices. Insults are added to injuries when Americans are forced to pay the highest prices for drugs which our Government often play a major role in research and development. A workable and simple plan offering the necessary benefits to seniors in need can be set in motion immediately. First, lower the cost of prescription drugs by following the principles and procedures set forth in my bill, H.R. 4772, the Pharmaceutical Products Price Equity Act which I first introduced on September 25, 2000. This bill ensures that pharmaceutical companies cannot charge more the 6 percent above the average retail price of prescription drugs sold in the 5 most industrialized, free-market countries. This will ensure that pharmaceutical companies charge consumers within the U.S. prescription drug prices that are comparable to other nations.”