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AARP New Jersey Applauds Assembly Appropriations Committee for Standing Up to Big Drug Companies
TRENTON, NJ (June 22, 2023) – AARP New Jersey Associate State Director of Advocacy, Crystal McDonald, provided the following statement:
“New Jersey residents are struggling to afford rising prices on everything from groceries to gas. Our affordability crisis is only made worse by the ever-increasing price of prescription drugs. Drug companies have been hiking their prices faster than inflation for over a decade, forcing millions to choose between paying for food and paying for the medications they need.
“For decades, AARP has been fighting for lower drug costs and urging lawmakers to stand up to big drug companies. We commend the NJ Assembly Appropriations Committee for passing bill S1615/A2840 today, which will require more transparency on drug pricing and creates a NJ Drug Affordability Council. This panel of experts will examine pricing trends across the pharmaceutical supply chain and provide the Legislature with actionable recommendations on how to make prescription drugs more affordable. We urge the Legislature to pass the bill on the Senate and Assembly floor and send this critical legislation to the Governor’s desk.
“Big drug companies are charging Americans three times more for prescription drugs than everyone else in the world. This legislation is a major step forward in understanding and responding to the skyrocketing costs of prescription drugs. It’s time to create real transparency and real action to make medicine affordable.
“AARP urges the Legislature to stand with Senator Troy Singleton and Assemblyman John McKeon and pass S1615/S2840 to lower drug costs for New Jerseyans and get this over the finish line.
“AARP New Jersey also commends the Assembly Appropriations Committee for passing S1614/A2839 today, which sets maximum out-of-pocket costs for insulin at $35 per month, epi-pens at $25, and asthma inhalers at $50. A2839/S1614 is an important step toward ensuring these life-saving medications are more affordable to the New Jerseyans who depend on them, including the 622,414 New Jerseyans who have diabetes. We urge the Legislature to send S1614/A2839 to the Governor’s desk.
“These two bills work together by making life-saving medications affordable for New Jerseyans with insurance coverage, as well as lowering prescription drug costs for all New Jerseyans by establishing a Prescription Drug Affordability Council with data transparency requirements.
“AARP won't stop fighting big drug companies’ out-of-control prices until all Garden State residents can afford their medication. We urge the Legislature to pass S1615/A2840 and S1614/A2839 and send the legislation to Governor Murphy for enactment. New Jerseyans cannot afford to wait.”
