U.S. Senators Jacky Rosen (D-NV) and John Curtis (R-UT) have introduced bipartisan legislation aimed at lowering the costs of prescription drugs and medical devices, addressing drug shortages, increasing domestic production, and supporting job creation. The proposed Expanding Access to Affordable Prescription Drugs and Medical Devices Act would establish a pathway for nonprofit drug and medical device manufacturers to obtain tax-exempt status, with the goal of strengthening nonprofit manufacturer output and making medicines more affordable for Americans.
Senator Rosen said, “As Nevadans continue being squeezed by rising costs, I’m working to lower costs any way I can. Whether it’s access to cancer-treating medication or insulin pumps, this bipartisan bill would help reduce costs by bringing medications and devices to the market at a reasonable price, while creating jobs right here at home. I will never stop fighting to ensure Nevadans can access the affordable medical care they depend on.”
Senator Curtis stated, “So much of what is lost in our conversation about healthcare is the true cost associated with medications and medical devices. Utahns and their families look to Congress to help cut red tape and streamline innovation, and alongside Senator Rosen, this legislation will help secure the domestic supply chain and empower nonprofit manufacturers to improve our most vulnerable health care markets.”
Industry representatives have voiced support for the measure. Ned McCoy, President and CEO of Civica Rx said, “We appreciate the attention of Congress to the non-profit pharmaceutical model. This helps advance our mission to address drug shortages and ensure fair drug prices for consumers.” Dan Liljenquist, Chief Strategy Officer at Intermountain Health added: “Nonprofit pharmaceutical companies are tackling important public health needs and drug supply challenges—such as drug shortages and high prices—that aren’t being effectively addressed by traditional companies. This legislation will help additional companies deliver on their important nonprofit missions.”
Senator Rosen has previously worked on measures aimed at reducing medical expenses for her constituents. Recent efforts include helping pass laws that led to reduced prices for 15 more medications under Medicare Part D for seniors; introducing bipartisan bills such as the Reducing Drug Prices for Seniors Act; supporting legislation enabling Medicare negotiations over prescription drug pricing; capping insulin prices at $35 per month; and announcing new caps on prescription costs for Nevada seniors.
