Independent Sen. Angus King joined 18 other members of Congress Tuesday to introduce a bill designed to lower the cost of prescription drugs. The bill would allow Americans access to FDA-approved drugs from other countries, such as Canada.
King says the cost of prescription drugs is overwhelming Mainers, particularly those on fixed incomes.
“As everybody’s observed this really is a crisis. It’s a crisis that people confront each day when they walk into the drug store. It’s a crisis when they get their bills. It’s a crisis for Medicare because of the cost we’re paying for drugs,” he says.
King also says domestic drug companies are enjoying a monopoly because current laws don’t allow for the importation of drugs from other countries.
“This is a market-based solution that simply opens up to competition across the borders of our country what is now a closed market with a government sponsored monopoly,” he says.
The bill is co-sponsored by Democrats and independents, including Vermont Sen. Bernie Sanders. Several of the bill sponsors say they hope it gains Republican support, including Donald Trump, who railed against high drug costs during the campaign.
The proposal is likely to face opposition from American pharmaceutical industry, which has spent over $240 million lobbying Congress. The industry, a big donor to Democrats and Republicans, has helped defeat similar bills in Congress and at the state level.
