ALBANY, N.Y. – AARP New York State Director Beth Finkel on Wednesday released the following statement about Governor Andrew Cuomo’s three-part proposal to crack down on drug companies’ high prices:
“AARP launched a nationwide “Stop Rx Greed” campaign earlier this year, and we are fully supportive of Governor Cuomo’s comprehensive, multi-pronged proposal to attack the skyrocketing costs of prescription drugs.
“The cost of prescription drug treatment grew more than five times the average New Yorker’s income from 2012 to 2017 as the price for key drugs that nearly 4 million New Yorkers rely on to treat cancer, diabetes and heart disease all rose by 62% to 96%. The result: one in five adult New Yorkers stopped taking prescribed medications, mainly due to cost.
“This is a life and death issue.
“Governor Cuomo’s intention to submit a plan to the federal government for safe, FDA-approvedimportation of lower-cost prescription drugs from Canada and his proposal to cap consumers’ out-of-pocket costs for diabetes-fighting insulin at $100 a month are significant steps to ensure New Yorkers can afford the drugs they rely on – in many cases to stay alive.
“The Governor’s proposal to give the Department of Financial Services the power to investigate drug price gouging, disallow unjustifiable increases, levy fines on perpetrators and require restitution to consumers would hold drug makers accountable, while authorizing public hearings on suspected gouging would help shine the light on unconscionable hikes.
“AARP New York will be working through the coming months to ensure these proposals are included in the 2020-21 state budget and if necessary enacted by the end of the 2020 state legislative session.”