STEVENS POINT, WI (WSAU) — Wisconsin Senator Tammy Baldwin made a stop in Stevens Point on Monday to hear from residents struggling with the high cost of some vital prescription drugs.
The listening session was part of a call to action Baldwin has made for Senate leaders to take up a package of bills that have already passed the house aimed at reducing drug costs. That package includes a measure authored by Baldwin herself called the fair drug pricing act.
“That requires a pharmaceutical company to justify a price increase,” said Baldwin. “They set the list price, and when they do so they just announce it. [But,] if we require justification and transparency I think we are going to be able to stem this crisis.”
She says in recent years the cost of drugs like insulin and EpiPens have more than doubled without explanation. While she says the research and development are important, there’s also a lot of other spending that goes on for things like stock buybacks and TV advertising.
“It’s about the most opaque field you can be in, and until we get the facts and shine a light on it we are going to see corruption and price changes without any justification.”
Another bill waiting for its day in the Senate would allow Medicare to negotiate lower drug prices directly with the companies that produce them. Baldwin says that would have ripple effects across the healthcare industry.
Both bills have been waiting on majority leader Mitch McConnell’s desk for some time. Baldwin says if he would schedule it for a vote, chances are it would move forward.
“Many of the provisions in it have support from both Democrats and Republicans in the Senate, and it certainly had support from both sides when it passed the House.”
Baldwin adds that she was also encouraged by Trump’s stance on the issue during his recent State of the Union address, meaning the issue could be an opportunity for “a lot of progress if we just resolve to work together.”
During the discussion, Baldwin heard from around a dozen residents who told personal stories of how the situation has impacted them or others close to them.
One man said he requires a shot that retails at $5,000 every month to control his asthma. Another woman said she has neighbors that are on the same medication but pay two different out-of-pocket prices because of their plans.
