Drug companies are making record profits. Creating a Prescription Drug Advisory Board (PDAB) will promote transparency and accountability for an industry that has avoided it with an army of high-paid lobbyists. A PDAB can establish fair upper payment limits for expensive new drugs or block a dramatic price increase for seniors and patients. This can help keep drug companies from gouging patients with high out-of-pocket payments and require drug companies to disclose information showing why their drug costs so much.
What politicians are saying:
“The cost of prescription drugs has been rising for far too long. Establishing a Michigan Prescription Drug Affordability Board can directly reduce costs by providing the necessary oversight and transparency. This legislation is a key component to helping those most affected by these prices — consumers — into the equation, in addition to other folks in the prescription drug supply chain who are responsible for the final price we pay.”
– Sen. Winnie Brinks