Rosen, Curtis Introduce Bipartisan Bill to Lower Costs of Medications, Medical Devices

WASHINGTON, DC - Today, U.S. Senators Jacky Rosen (D-NV) and John Curtis (R-UT) introduced a bill to help reduce the cost of prescription drugs and medical devices, prevent drug shortages, boost domestic production, and create more jobs. Their bipartisan Expanding Access to Affordable Prescription Drugs and Medical Devices Act will create a clear pathway for nonprofit drug and medical device manufacturers to receive tax-exempt status, to support this critical industry and bolster nonprofit manufacturer production so more Americans can have access to lower cost medicine.

"As Nevadans continue being squeezed by rising costs, I'm working to lower costs any way I can," said Senator Rosen. "Whether it's access to cancer-treating medication or insulin pumps, this bipartisan bill would help reduce costs by bringing medications and devices to the market at a reasonable price, while creating jobs right here at home. I will never stop fighting to ensure Nevadans can access the affordable medical care they depend on."

"So much of what is lost in our conversation about healthcare is the true cost associated with medications and medical devices," said Senator Curtis. "Utahns and their families look to Congress to help cut red tape and streamline innovation, and alongside Senator Rosen, this legislation will help secure the domestic supply chain and empower nonprofit manufacturers to improve our most vulnerable health care markets."

"We appreciate the attention of Congress to the non-profit pharmaceutical model," said Ned McCoy, President and CEO of Civica Rx. "This helps advance our mission to address drug shortages and ensure fair drug prices for consumers."

"Nonprofit pharmaceutical companies are tackling important public health needs and drug supply challenges-such as drug shortages and high prices-that aren't being effectively addressed by traditional companies," said Dan Liljenquist, Chief Strategy Officer at Intermountain Health. "This legislation will help additional companies deliver on their important nonprofit missions."

Senator Rosen has been a leader in helping lower medical costs for Nevadans. Last week, she announced that a law she helped pass has led to lower prices for 15 additional medications for seniors on Medicare Part D. Earlier this year, Senators Rosen and John Cornyn (R-TX) introduced the bipartisan Reducing Drug Prices for Seniors Act, which would also help directly reduce out-of-pocket costs for medications for seniors on Medicare. Last year, Rosen helped pass the bill that gave Medicare the power to negotiate for lower prescription drugs and cap the price of insulin at $35 a month. At the beginning of this year, Senator Rosen announced the start of a cap on prescription drug prices for Nevada seniors that she helped pass.

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