Unquestionably, pharmaceuticals have improved the lives of millions of people with very serious illnesses and chronic disabilities. Each year, drug companies introduce new drugs that restore the health, extend the life expectancy and improve the quality of life for people. However, these contributions are not a license for profiteering and price gouging. As the three studies which I have requested and released show, widespread price discrimination against seniors who must purchase their own prescription drugs is occurring. Manufacturers charge less to hospitals, HMOs, the federal government, other countries such as Canada and, Mexico, and now we learn today that they even charge less when the drugs are intended for animal use than when their drugs are intended for human use.
Seniors are at the bottom of a complex drug pricing hierarchy.
This is wrong. These studies show that the drug companies charge what the market will bare. If we end this price discrimination, seniors will save money. What seniors need is bargaining power. I have introduced H.R.664, the Prescription Drug Fairness for Seniors Act .