Month: August 2022

BY KARIN SANCHEZ
PUBLISHED: WEDNESDAY, AUGUST 17TH, 2022

LAS CRUCES, N.M. (KFOX14/CBS4) — New Mexico Governor Michelle Lujan Grisham, the U.S. Secretary of Health and Human Services Xavier Becerra, and U.S. Senators Ben Ray Lujan and Martin Heinrich discussed with the community in a closed-off roundtable how the Inflation Reduction Act will lower the price of prescription drugs.

President Biden signed the inflation reduction act on Tuesday, August 6, which allowed Medicare to negotiate the cost of prescription drugs.

Leaders in New Mexico looked to take that one step further.

While Medicare is allowed to lower the cost of prescriptions, Governor Michelle Lujan Grisham said the state needs to fill in gaps within the Inflation Reduction Act to improve access to affordable medication. 

The state of New Mexico looked to pass a bill called the Prescription Drug Affordability Act.

The bill would create an advisory board, which leaders said would consist of appointed experts that would negotiate on the behalf of New Mexicans to hold drug companies accountable and incentivize lower prices for prescription drugs.

“This President, this senate, this secretary got it over the finish line and now New Mexicans are going to get access to life-saving treatment in ways they just didn’t have before,” said Michelle Lujan Grisham, New Mexico Governor.

The U.S. Secretary of Health and Human Services said New Mexicans will not be seeing a drastic change in medication prices until 2026.

LAS CRUCES, NM – New Mexico Consumers for Affordable Prescriptions today called for the creation of a Prescription Drug Affordability Board at a roundtable discussion with the state’s congressional delegation and Governor Michelle Lujan Grisham, advocating that all New Mexicans would benefit from an independent board with the authority to evaluate the cost of medications and negotiate more affordable rates for New Mexicans.

A key provision of the federal Inflation Reduction Act to allow Medicare to negotiate drug prices is an important step forward for seniors. However, soaring prescription drug costs affect all New Mexicans, and the Inflation Reduction Act underscores the need for state action to fill in the gaps and improve access to affordable medications.

“New Mexicans continue to struggle to afford the medications they need,” said Barbara Webber, Executive Director of Health Action New Mexico. “A Prescription Drug Affordability Board will hold drug companies accountable and negotiate on consumers’ behalf to lower the cost of drugs. I want to thank New Mexico’s federal delegation and Governor Lujan Grisham for their focus on this critical issue.”

A Prescription Drug Affordability Board (PDAB) would consist of independent appointed experts to negotiate on behalf of New Mexico consumers, hold drug companies accountable, and incentivize lower prices for prescription drugs. PDAB strategies may include:

• Creating and utilizing a statewide benefits manager to lower drug costs.
• Securing the lowest-cost drugs available.
• Rewarding New Mexicans when then use discounts and direct mail drug services.
• Ensuring New Mexicans pay the same low cost for drugs as Canadians.

“Enough is enough,” said Joseph P. Sanchez, AARP New Mexico State Director. “While the Inflation Reduction Act is an important step forward for seniors, soaring drug costs affect all New Mexicans, and federal action underscores the need for the state to fill in the gaps and improve access to affordable medications for others, including those on Medicaid, workers who have health insurance through public and private sector coverage, as well as the uninsured. With the establishment of the Prescription Drug Affordability Board, New Mexicans will have an independent advocate that can evaluate prescription drug costs and negotiate reasonable prescription drug prices.”

The Legislative Health and Human Services endorsed the creation of a PDAB at its November 2021 hearing where lawmakers questioned the pharmaceutical industry on anti-consumer practices, including new evidence from the most recent report of the Institute for Clinical and Economic Review on unsupported price increases.

The creation of a PDAB is among the top recommendations for states to determine the true cost of prescription drugs and help make medications more affordable for consumers, according to a bipartisan report by the National Conference of State Legislatures.

• On average, Americans pay three times as much for the same medicines as people in other countries.
• The Journal of the American Medical Association reports 35 big drug companies raked in $8.6 billion in profits between 2000 and 2018.
• Nine of the top ten companies spend more money on marketing and advertising than they do on researching new drugs.
• Nearly half of New Mexicans have skipped taking medication or not filled a prescription because of cost concerns.

Advocates have launched a website, www.newmexicocap.org, with information about drug pricing and state policy options to reduce drug costs.

CONTACT: Barbara Webber, Executive Director, Health Action New Mexico 505-508-6531 (cell) barbara@healthactionnm.org

BY BARBARA WEBBER AND ALEX CVIJANOVICH / ALBUQUERQUE JOURNAL
PUBLISHED: TUESDAY, AUGUST 2ND, 2022

As Congress debates adding a prescription drug provision to the budget reconciliation, one thing is certain – while important, proposed federal action to allow Medicare to negotiate drug prices will not go far enough to improve access to affordable medications for New Mexicans. We need state action to create an independent board with the authority to evaluate high-priced drugs and negotiate reasonable rates for consumers.

Too many New Mexicans are struggling to afford the prescription drugs they need, often having to choose between their medication and other necessities, like rent and groceries. Rising drug prices affect all New Mexicans including those on Medicare and Medicaid, workers who have health insurance through public and private sector coverage, as well as the uninsured, and it is critical the state take action to ensure all state residents can access affordable medications, because drugs don’t work if people can’t afford them.

That’s why New Mexico Consumers for Affordable Prescriptions is building support across the state for legislation in 2023 to create a Prescription Drug Affordability Board (PDAB) with a mandate to evaluate the cost of medications, hold big drug companies accountable, negotiate more affordable rates for New Mexicans and incentivize lower prices.

Nearly half of New Mexicans have skipped taking medication or not filled a prescription because of cost concerns. And the big drug companies have taken advantage of the pandemic to raise prices. On average, Americans pay four times as much for the same medicines as people in other countries, and nine of the top 10 pharmaceutical companies spend more money on advertising than they do on researching new drugs.

Enough is enough. Creating a PDAB is among the top recommendations for our state to determine the true cost of prescription drugs and help make medications more affordable for consumers, according to a bipartisan National Conference of State Legislatures report.

Last year, the Legislative Health and Human Services Committee stood up for New Mexico patients and consumers by endorsing the creation of a PDAB. During a day-long hearing on the high cost of drugs, the committee demanded answers from pharmaceutical industry representatives on why prices continue to skyrocket as pharmaceutical company profits soar.

The committee’s work should continue during its August meeting to finalize a prescription drug affordability board for approval in the 2023 legislative session. Prices for 460 prescription drugs increased by an average of 5.2% in 2020 – more than triple the rate of inflation – according to an analysis from the health care research firm, 3 Axis Advisors. And the Journal of the American Medical Association reports 35 big drug companies raked in $8.6 trillion in profits between 2000 and 2018.

It’s time for the governor and state legislators to stand up to the big drug companies, and they can be confident their constituents are with them. Nine in 10 New Mexicans are either very or somewhat concerned about the cost of prescription drugs, and nearly eight in 10 favor the creation of a PDAB, according to a statewide survey conducted by research firm GBAO.

New Mexico needs to create a Prescription Drug Affordability Board now with the authority to examine the entire drug supply chain, negotiate more affordable prices on expensive drugs that create significant affordability problems for New Mexicans, and build upon New Mexico’s efforts to lower health care costs for all residents.

BY BARBARA WEBBER AND ALEX CVIJANOVICH / SANTA FE NEW MEXICAN
PUBLISHED: SUNDAY, JULY 31ST, 2022

As Congress debates a prescription drug provision, one thing is certain: While important, proposed federal action to allow Medicare to negotiate drug prices will not go far enough to improve access to affordable medications for New Mexicans. We need state action to create an independent board with the authority to evaluate high-priced drugs and negotiate reasonable rates for consumers.

Too many New Mexicans are struggling to afford the prescription drugs they need, often having to choose between their medication and other necessities, like rent and groceries. Rising drug prices affect all New Mexicans, including those on Medicare and Medicaid; workers who have health insurance through public and private sector coverage; and the uninsured, and it is critical the state take action to ensure all state residents can access affordable medications because drugs don’t work if people can’t afford them.

That’s why New Mexico Consumers for Affordable Prescriptions is building support across the state for legislation in 2023 to create a Prescription Drug Affordability Board with a mandate to evaluate the cost of medications, hold big drug companies accountable, negotiate more affordable rates for New Mexicans and incentivize lower prices.

Nearly half of New Mexicans have skipped taking medication or not filled a prescription because of cost concerns. And the big drug companies have taken advantage of the pandemic to raise prices. On average, Americans pay four times as much for the same medicines as people in other countries, and nine of the top ten pharmaceutical companies spend more money on advertising than they do on researching new drugs.

Enough is enough. Creating an affordability board is among the top recommendations for our state to determine the true cost of prescription drugs and help make medications more affordable for consumers, according to a bipartisan National Conference of State Legislatures report.

Last year, the Legislative Health and Human Services Committee stood up for New Mexico patients and consumers by endorsing the creation of a Prescription Drug Affordability Board. During a daylong hearing on the high cost of drugs, the committee demanded answers from pharmaceutical industry representatives on why prices continue to skyrocket as pharmaceutical company profits soar.

The committee’s work should continue during its August meeting to finalize a prescription drug affordability board for approval in the 2023 legislative session. Prices for 460 prescription drugs increased by an average of 5.2 percent in 2020 — more than triple the rate of inflation — according to an analysis from the health care research firm 3 Axis Advisors. And the Journal of the American Medical Association reports 35 big drug companies raked in $8.6 trillion in profits between 2000 and 2018.

It’s time for the governor and state legislators to stand up to the big drug companies, and they can be confident their constituents are with them. Nine-in-10 New Mexicans are either very or somewhat concerned about the cost of prescription drugs, and nearly 8 in 10 favor the creation of a Prescription Drug Affordability Board, according to a statewide survey conducted by research firm GBAO.

New Mexico needs to create a Prescription Drug Affordability Board now with the authority to examine the entire drug supply chain, negotiate more affordable prices on expensive drugs that create significant affordability problems for New Mexicans and build upon New Mexico’s efforts to lower health care costs for all residents.