This renewed attention is due to several factors. And the Senate’s bipartisan Prescription Drug Pricing Reduction Act would reduce government spending on drugs by an estimated $100 billion over the next decade. The Senate Special Committee on Aging recently conducted a series of hearings on drug pricing. Congress has already passed the Know the Lowest Price Act and the Patient Right to Know Drug Prices Act, both of which try to promote transparency in prices.
The administration recently issued new regulations requiring manufactures to list the price of their drugs in television ads. President Trump has stated that reducing drug prices is one of his highest priorities. Drug prices are once again a major focus of public policy in Washington D.C.
