Kinzinger Leads Bipartisan Effort on Fair Drug Pricing
This week, Congressman Adam Kinzinger (IL-16) introduced H.R. 3276, the Fair and Accurate Medicaid Pricing Act, with his Democratic colleague, Rep. Joe Kennedy (MA-04).
Washington, DC – This week, Congressman Adam Kinzinger (IL-16) introduced H.R. 3276, the Fair and Accurate Medicaid Pricing Act, which would force pharmaceutical companies to calculate prices accurately in the Medicaid drug rebate program. This bipartisan legislation would close a loophole that costs taxpayers up to $600 million each year.
Following introduction of H.R. 3276 with his colleague Congressman Joe Kennedy (MA-04), Congressman Kinzinger released the following statement:
“For far too long, drug manufacturers have utilized a loophole in our Medicaid drug rebate system to reduce their own financial obligations by selling their authorized generic products at a lower price to secondary manufacturers. These lower prices are then included when calculating the rebate obligation the manufacturer owes to the federal and state governments, which leaves taxpayers responsible for more of the costs. Patients across the country are dying because they cannot afford the medication they need. This is unacceptable and it has to stop.
“Today, I’m proud to introduce the Fair and Accurate Medicaid Pricing Act to force accurate pricing and help close this egregious loophole that has put a much too costly burden on patients in my district and across the country.”
In addition to Kinzinger and Kennedy, H.R. 3276 was cosponsored by Congressmen Jason Smith (MO-08) and Tom O’Halleran (AZ-01). A companion bill was also introduced in the Senate recently by Senators Bill Cassidy (R-LA) and Maggie Hassan (D-NH). The full text of H.R. 3276 can be found here.