Senate Finance Committee Chair Ron Wyden, D-Ore., today released a statement after President Joe Biden delivered remarks calling on Congress to pass legislation to lower the cost of prescription drugs, including Medicare negotiation:
“President Biden is absolutely right - American families and taxpayers have been paying too much for prescription drugs while Medicare has one hand tied behind its back. It’s time to allow Medicare to use the bargaining power of 50 million American seniors to negotiate a fair price for drugs with manufacturers, especially when market forces have failed to keep prices down. I am working hard alongside my fellow senators to make Medicare negotiation a reality for millions of families that need relief from high drug prices."
In June, Wyden released his principles for drug pricing reform. That document can be found here.
