Rep. Kuster and Business Leaders Discuss Legislation to Make Rx Drugs More Affordable for Granite Staters
Concord, NH — Today, Rep. Annie Kuster (NH-02) joined the Greater Concord Chamber of Commerce with Protect Our Care NH to discuss her legislation, the Increasing Transparency In Generic Drug Applications Act of 2022, to lower prescription drug costs for Granite Staters. Thislegislation clarifies the Food and Drug Administration’s (FDA) ability to provide more robust feedback to generic companies applying for Abbreviated New Drug Applications (ANDAs) and end the guessing game that delays access to cost-effective medications. This would allow less expensive drugs to come to market faster and lower costs for Americans at the pharmacy counter. The House Energy and Commerce Committee recently voted to advance Rep. Kuster’s bill as part of a larger legislative package aimed to ensure the FDA has resources to provide for the safety and efficacy of drugs and medical devices used by millions of Americans.
Rep. Kuster has been a champion for Granite State families in the fight to address the rising costs of insulin and other life-saving medications. Kuster recently joined House Democrats to vote for theAffordable Insulin Now Act, legislation to cap out-of-pocket insulin costs to $35 per month for millions of diabetics with private insurance and Medicare coverage. Approximately 113,110 people in New Hampshire, or 10% of the adult population, have diagnosed diabetes.
Rep. Annie Kuster, a senior member of the House Energy and Commerce Health Subcommittee, said, “Granite Staters should never be faced with decisions between the medications they need and necessities like food and rent. I was proud to advance my bill, theIncreasing Transparency In Generic Drug Applications Act, earlier this month through the Energy and Commerce Committee to help remove barriers and get lower-cost drugs to market quickly and efficiently. This was part of our broader efforts to lower prescription drug costs for all Americans.”
Rep. Kuster explained, “We have made a great deal of progress capping insulin prices, and we will continue working to lower prescription drug costs. In the House, we passed legislation to cap monthly out-of-pocket insulin costs at $35, and Senator Shaheen is leading the cause in the Senate. I suspect we will get a prescription drug bill out of the Senate with a cap on insulin prices before the end of July."
Tim Sink of the Greater Concord of Commerce asked about incentives to keep drug companies focused, and said that "The lack of transparency is frustrating.”
Dr. Randy Hayes, a retired physician and member of the Kent Street Coalition said, "Insulin patients spend most of their time trying to figure out what their insurance does and does not cover, and 40% of the deaths from COVID were from diabetics. We've got to have transparency at so many levels."
Read the full text of the Increasing Transparency In Generic Drug Applications Act of 2022 here.