Dear ,

The cost of prescription drugs is skyrocketing. Too many people here in our community and throughout the country are struggling to pay for the medications they need. Drug companies get rich by drastically raising prices while Americans are forced to choose between putting food on the table and paying for their medication.

Prescription drugs save lives — and Big Pharma knows it. While I served as the Insurance Commissioner of California for eight years, I saw for myself that the for-profit insurance industry would do what it can to maximize profits at the expense of consumers. Drug companies have been allowed to charge astronomical prices for essential medication like insulin—making much-needed treatments unaffordable for millions of Americans.

They’ve held life-saving drugs for ransom, making the American people spend far more than any other developed nation for the same medicine. Americans pay more than 800% more for their insulin than Canadians.

Results from a 2020 study conducted by the Rand Corporation show the great disparity between the average price of insulin in America and that of several other developed countries.

It’s time we fight back against corporate greed. That’s why I voted for the Affordable Insulin Now Act (H.R.6833) when it passed through the House by a vote of 232 to 193 on March 31, 2022. This legislation will cap the cost of insulin at $35. Our country should not be paying more than any other developed nation, and this legislation will fix that.

However, this price-gouging of prescription drugs does not just end with insulin. In 2020, the retail prices for brand-name prescription drugs in the United States were more than 2 to 4 times higher than the prices in Australia, Canada, and France. Each year, Americans spend over $335 billion on prescription drugs.

We cannot wait any longer to lower costs on essential medication. It’s time we negotiate a better deal on drug pricing for the American people. That is why I have been a long-time cosponsor of the Elijah E. Cummings Lower Drug Costs Now Act (H.R.3). This critical piece of legislation will lower prescription drug costs by giving Medicare the power to negotiate directly with drug companies. These new lower prices would be available to all Americans with private insurance, not just Medicare beneficiaries. In addition, it will create a new $2,000 out-of-pocket limit on prescription drug costs for Medicare beneficiaries. This legislation will also stop drug companies from ripping off Americans while charging other countries less for the same drugs.

I will continue to fight in Congress to make sure Americans can access life-saving prescription drugs. No one should have to choose between putting food on the table and paying for their medications.

Sincerely,

JOHN GARAMENDI
Member of Congress