Help Lower the Price of Prescription Drugs
The skyrocketing price of prescription medications is driving up costs for Colorado patients and families with more than half of Coloradans worried about affording the prescription medicine they need to stay healthy. Too many Coloradans are even choosing between purchasing the medications they need and paying their rent or utility bill. Unfortunately, some patients are reducing dosages, rationing their medications, or unable to afford them at all.
That's why Coloradans came together to create the first ever Prescription Drug Affordability Board. Now this historic Board has the opportunity to lower the cost of some of the state's most unaffordable, commonly prescribed medications that Coloradans struggle to afford every day.
However, since the creation of Colorado's Prescription Drug Affordability Board, big pharma has attempted to create loopholes to avoid accountability and continue charging Coloradans excessive amounts for medication as they rake in astronomical profits. This includes underhanded tactics like trying to carve out some of the most commonly used medications and scaring vulnerable patients by threatening to stop selling medications in Colorado.
Big Pharma is fighting our PDAB so aggressively because the PDAB wants to actually lower prescription drug prices.
Colorado's Prescription Drug Affordability Board is our state's best tool to hold Big Pharma accountable and reign in out-of-control drug costs–and we can't go back. We need to make sure the members of this board keep fighting for Colorado patients - not the profits of drug companies. Write to the PDAB board members to urge them to put patients first and lower the cost of prescription drugs!
As a Coloradan who has been directly impacted by the rapidly increasing costs of prescription drugs, I am writing to share my support for the critical work of the Prescription Drug Affordability Board (PDAB) in our state to reduce these skyrocketing costs. I'm not alone in my growing concern about the rising prices of these vital drugs. More than 50% of Coloradans are worried about the costs of prescription medication, which makes sense when you learn that medicine prices have risen more than 159% over the last 10 years.
On average, Colorado families like mine are paying between 65% and 85% more for the same lifesaving medicines that people in other countries pay – this includes nearly all the medications the Prescription Drug Affordability Board is considering.
Unfortunately, massive corporations that are making trillions in profits continue to use exaggerated scare tactics to prevent patients and lawmakers from taking action to rein in these exorbitant prices. Colorado has the chance to be the first state in the nation to determine which drugs are unaffordable and set upper payment limits that will ensure access to medication Coloradans need. Studies have found that between 2000 and 2018, 35 major drug companies made $8.6 trillion in profit from selling life-saving medications and most companies are spending almost twice as much on marketing and advertising than they did on Research and Development. While Big Pharma's tactics to stop the important work of our PDAB are disappointing, they certainly aren't unexpected. The reality is that prescription drugs only work if people can afford to buy them, and right now many lifesaving medicines are out of reach.
I encourage the PDAB to continue to take critical steps to reduce the costs of prescription medications – especially since it's expected that the Board could save Colorado families up to 75% on the costs of the most unaffordable drugs, which is real money for families like mine. No one should ever be put in a situation where they have to choose between keeping a roof over their head or the lights on to afford vital medications for themselves or their family.
The PDAB has a chance to lead the nation by meaningfully saving people money on health care while also protecting access to critical medicines and standing up to Big Pharma's efforts to avoid regulation. This work is truly a matter of life and death for some Coloradans and it's crucial that our state reign in the cost of prescription medication.
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