Advertisement Buttigieg unveils ‘Affordable Medicine for All’ plan, promising to curb prescription drug cost hikes South Bend mayor says Washington politicians have long stood with ‘Big Pharma’ Share Shares Copy Link Copy

Presidential candidate Pete Buttigieg on Monday is unveiling a multi-pronged to limit prescription drug price hikes in part by forcing pharmaceutical companies to be more transparent in their pricing and to hold increases to no more than the rate of inflation.>> Download the FREE WMUR appButtigieg, the Democratic mayor of South Bend, Indiana, is calling his plan “Affordable Medicine for All” and says as president, he would compel pharmaceutical companies to “price responsibly and work for, not against, the American people.”“Time and time again, Washington has proven that it’s either uninterested in or incapable of addressing this problem,” Buttigieg said. “Instead of siding with Americans, politicians have stood with ‘Big Pharma,’ as they did when Congress barred the federal government from negotiating with pharmaceutical companies on drug prices for seniors.“It’s time for a new era of leadership in Washington who will finally make drugs affordable and take on pharmaceutical companies,” he said.Citing several studies and reports, the Buttigieg campaign said:-- According to the Organization for Economic Cooperation and Development: Currently, Americans spend more than $1,200 on prescription drugs per person per year, which is more than double the per person cost for the British, Norwegians and Italians.-- According to the nonprofit Kaiser Family Foundation: Three in ten Americans skip doses or forgo filling prescriptions due to costs.-- According to an analysis published by Axios: Pharmaceutical companies are the most profitable companies in the health care sector.-- According to a report by CBS News: In the first six months of 2019, pharmaceutical companies increased prices for 3,400 drugs, and for those drugs, the average increase was 10.5 percent, five times the rate of inflation. More than 40 drugs had price hikes greater than 100 percent.The Buttigieg campaign also cited findings by the AARP that in 2017, 22 percent of New Hampshire residents stopped taking medication as prescribed due to cost.Buttigieg’s plan would:-- Cut out-of-pocket prescription drug costs for seniors on Medicare by at least 50 percent by the end of his first term as president, including an out-of-pocket cap on prescription drug costs of $200 per month.-- Cap out-of-pocket spending on prescription drugs under $250 per month for people who choose public coverage under Buttigieg’s Medicare for All Who Want It plan.-- Allow the federal government to negotiate drug prices with pharmaceutical companies.-- Hold pharmaceutical companies accountable for price gouging by exercising “eminent domain” to take patents away from what Buttigieg calls the “worst offenders that refuse to lower prices for essential drugs.”-- Penalize pharmaceutical companies that raise prices by more than the inflation rate.-- Require pharmaceutical companies that are under a public plan or Medicare to report to the federal government prices, discounts, rebates and free goods, as well as the costs of manufacturing drugs.-- Have a zero co-pay for high-quality generic medicines for low-income people on Medicare, Medicaid and Buttigieg’s Medicare for All Who Want It plan-- Reduce median annual out-of-pocket drug spending for middle-class Americans on Medicare Part D living with cancer by at least $5,100 and by at least $2,000 for those living with certain immune disorders, such as rheumatoid arthritis or multiple sclerosis.Buttigieg would also “dramatically” reduce the cost of the overdose-reversing drug naloxone, which he says would help end the opioid epidemic.Cititng the case of a 21-year-old diabetic Minnesota man who died while rationing his insulin, Buttigieg guaranteed that rationing due to cost would end under his administration.“For too long, corporate health care has prioritized profits over people, and so have politicians in Washington,” the Buttigieg campaign said in sharing its plan with WMUR.“Pete has the courage to break with the status quo by focusing on real solutions that will lower costs and make needed -- even life-saving -- medicines available to all Americans.Two Buttigieg supporters praised the plan. “Pete Buttigieg understands that access to affordable medicine is essential for a healthy society, and goes hand in hand with affordable health insurance,” said Rep. Michelle St. John of Hollis. “His prescription drug plan is exactly what our country needs. Any parent who has ever had a sick child knows how far they will go to get their child the medicine they need, but families should never have to risk bankruptcy or fall into debt to pay for medicine, while companies profit. "Under Pete’s policy, big drug companies will finally be held accountable and essential medicine will be within reach for every American.” Rep. Donna Mombourquette of New Boston, chair of the Hillsborough County Aging Services Committee said: .“For four decades, I worked with people with complex medical needs requiring numerous medications to maintain a decent quality of life and it’s time someone finally acted to rein in the rising cost of life-saving drugs. Pete’s plan does just that.“Pete’s plan is pragmatic, forcing pharmaceutical companies to behave responsibly, while also supporting innovation in medicine , and ensures every American has access to affordable prescription drugs.”