Assembly Passes Legislation To Lower Prescription Drug Prices

Assembly Speaker Sheldon Silver and Health Committee Chair Richard N. Gottfried today announced that the Assembly passed legislation to create a prescription drug discount program aimed at addressing the soaring prices of prescription drugs.

The bill (A.3848-B), sponsored by Gottfried, would establish a Prescription Drug Assistance Program to manage consumer purchasing power by negotiating rebates with suppliers, which are then applied toward reduced prescription drug costs for participants.

"For many people, prescription drugs are necessary for health and life. This program aims to improve the health of New York residents by making prescription drugs more accessible and affordable." said Silver (D-Manhattan). "The Assembly Majority is committed to providing lower drug costs through rebate offers at the state level to address this serious problem and bring relief to consumers throughout the state."

"The plan should be open to all low-income New Yorkers. Prescription drugs can work miracles," said Gottfried (D-Manhattan). "But many New Yorkers are crushed by the cost of those drugs or suffer because they cannot afford them at all. New York has the power to make these life-saving drugs more affordable. It would be unconscionable not to."

The program would be open to individuals without prescription coverage and those facing gaps in coverage, regardless of age, who meet certain income requirements.

The legislation passed today would:

• Create the Prescription Drug Discount Card, which would give participants direct access to discounts and rebates from manufacturers;
• Consolidate consumer purchasing power, improving access to medications; and
• Require the Department of Health to promote the plan through education and outreach.

"I urge the Senate to join the Assembly in acting on this very important program and generate much-needed savings for New Yorkers," concluded Silver.