September 25,2019

Grassley, Wyden Release Legislative Text of Finance Committee-Passed Prescription Drug Pricing Reduction Act

Washington – Senate Finance Committee Chairman Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) today released the statutory text of the Prescription Drug Pricing Reduction Act (PDPRA), S. 2543. The text mirrors the chairman’s mark that passed the Finance Committee in July with a bipartisan, two-thirds majority.
“President Trump has called on Congress to work together on a bipartisan bill to lower prescription drug prices. And there’s only one bipartisan bill in Congress to lower prescription drug prices that’s passed the committee process. This is it. Making prescription drugs more affordable consistently ranks as a top issue for Americans from every corner of the country. I encourage my colleagues on both sides of the aisle to come to the table and work with us to get a bill passed and signed into law.” Grassley said.
“The American people have made it clear to Congress: the time to put the drug industry before patients is over. The cost of prescription drugs is too high, and Congress must act. This bill creates real accountability for drug makers and middlemen who have spent decades profiteering with the expectation that taxpayers and families will foot the bill. Half measures that fail to crack down on these excesses are not enough: the Finance Committee bill would make a real difference for countless Americans struggling with high drug costs. I hope the Senate will pass our bill soon and begin working with the House of Representatives to get a bill to the president’s desk,” Wyden said.
The statutory text can be found HERE.
The committee report can be found HERE.

A section-by-section explanation of the legislation can be found HERE.