Yesterday, New York State Senator Lea Webb announced the New York Senate Majority has passed legislation aimed at making prescription drugs more affordable. The legislation aims to reduce the cost of prescription drugs, eliminate cost sharing for insulin, and promote health equity for patients within the state.
“I frequently hear from constituents who are struggling to pay for their medications, as the cost of prescription drugs, even generic drugs, continues to rise. Additionally, families in my district worry about shortages for important medications like insulin, which 1.6 million New Yorkers with diabetes rely upon for their health and well-being. This package of legislation, including the New York Affordable Drug Manufacturing Act would enact smart, accessible measures to ensure that essential medications and treatments are affordable to families across the Southern Tier.” Senator Lea Webb said in a release.
If the legislation is signed into law by Governor Hochul, New York would become the second state in the country to pursue its own drug manufacturing in order to lower costs and protect against supply shortages, Webb’s Office said in a release.
Additionally included in the legislation is the establishment of the creation of a wholesale drug importation program. The program would limit drug manufacturers abilities to prevent competing manufacturers from producing a generic alternative after a certain amount of time has passed.