We are in the midst of a national fiscal crisis, and the White House and Congress are negotiating levels of budget cuts and revenues. If Congress is serious about cutting costs, we must bring Big Pharma to the table to negotiate lower drug prices. Tremendous cost savings can be achieved by leveraging mass purchasing power to drive down prices. A major reason is because Medicare Part D does not negotiate drug prices. Not doing so is in effect a corporate give-away.
This is not a new concept, the VA already negotiated rates. If Medicare obtained the same drug prices as the Veterans Administration, it would save tens of billions each year! Pharmaceutical corporations fear this, and employed 876 lobbyist to prevent this, nearly 2 per member of Congress! But already Senators are standing up to Big Pharma and have introduced bills to protect citizens from run-away drug costs and excessive greed.
Allowing Medicare to negotiate prices with the drugmakers would save the federal government between $230 billion to $541 billion in the next decade. Additionally, state governments could save from $31 billion to $72 billion, and consumers could save from $48 billion to $112 billion over the same period.
Tell Our Wisconsin Elected Leaders to Support These Efforts!