ABC FOX MT: Bill sponsored by Tester to lower drug prices passes with bipartisan support
A bill sponsored by United States Senator Jon Tester (D-MT), The CREATES Act, passed Congress Thursday evening.
Washington D.C.- A bill sponsored by United States Senator Jon Tester (D-MT), The CREATES Act, passed Congress Thursday evening.
The CREATES Act blocks pharmaceutical companies from developing generic versions of their brand name drugs, so they can raise prices without competition.
Montana AARP says 39% of Montana residents have stopped taking prescribed medication due to cost. The price of prescription drugs went up 8% in 2017.
This bill will also allow for cheaper alternatives to be developed and approved faster which will increase market competition and ultimately help to lower prices.
According to the Montana AARP, the average senior takes four prescription drugs and the average Medicare user makes $26,000 a year.
The bill passed with bipartisan support and it will be signed into law by President Trump in the coming weeks.