January 13, 2022
FOR IMMEDIATE RELEASE
CONTACT: Barbara Webber, Executive Director, Health Action New Mexico
505-508-6531 (cell) barbara@healthactionnm.org
SANTA FE, NM – More than 1,000 New Mexicans are calling on Governor Michelle Lujan Grisham to make prescription drug affordability a priority for the upcoming legislative session. New Mexico Consumers for Affordable Prescriptions (NMCAP) delivered the petition signatures to the Roundhouse today, urging the governor to support the Prescription Drug Affordability Act to aid New Mexicans struggling to afford the medications they need.
“Governor Lujan Grisham can build on her strong record as a public health leader by making drug affordability a priority for the upcoming legislative session,” said Barbara Webber, Executive Director of Health Action New Mexico. “The Prescription Drug Affordability Act will hold drug companies accountable and set reasonable rates for consumers to pay.”
The Legislative Health and Human Services endorsed the creation of a Prescription Drug Affordability Board (PDAB) at its November hearing where lawmakers put the pharmaceutical industry on the hot seat for anti-consumer practices, including new evidence from the most recent report of the Institute for Clinical and Economic Review on unsupported price increases.
The price of the number one selling drug in the U.S., Humira, has increased 470 percent from 2003 – 2021, from $16,600 per year to $77,000. Created by AbbVie, Humira is used to treat Rheumatoid Arthritis, Crohn’s Disease, Colitis and other illnesses. Despite the fact that Humira’s patent was to end in 2016 and allow for more affordable biosimilar alternatives, AbbVie has blocked them through a tactic call “Pay for Delay,” pushing the expiration to 2023 and costing U.S. consumers $19 billion, according AHIP, the association of health insurers.
“Big Pharma’s greed has no limits – even for essential medications,” said Sara Manns, NMCAP Campaign Director. “It is past time for action. New Mexicans need an advocate with teeth to ensure they are not being taken advantage of by drug companies.”
Creating 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 National Conference of State Legislatures report.
A PDAB would regulate prescription drugs with costs that greatly impact New Mexicans, including high-cost, brand name medications. The Board would consider a broad range of economic factors when setting appropriate payment rates for reviewed drugs, allowing pharmaceutical manufacturers the opportunity to justify existing drug costs. Once a fair payment rate is determined, the Board sets an upper payment limit that applies to all purchasers and payor reimbursements in New Mexico, ensuring that lower costs benefit consumers.
The legislative session opens January 18, 2022.