Can NJ bring down the cost of prescription drugs? Sen. Troy Singleton thinks it can

David Levinsky | January 27, 2020 | Burlington County Times |

 

The latest effort to rein in sky-high drug prices was unveiled Monday by Sen. Troy Singleton, D-7 of Delran, and calls for the creation of a drug affordability board with the authority to recommend caps on the price of certain prescription drugs it finds are excessive. A second bill would require the state Department of Treasury to seek to enter into bulk purchasing arrangements for the most-frequently needed drugs of state employees and Medicaid recipients.

TRENTON — Democratic efforts to try to lower the prices of prescription drugs aren’t just happening in Washington D.C.

Here in New Jersey, lawmakers are also looking to stem the rapid rise of medication prices with state legislation, including increasing transparency and leveraging the state government’s buying power.

The latest effort to rein in sky-high drug prices was unveiled Monday by Sen. Troy Singleton, D-7 of Delran, and calls for the creation of a drug affordability board with the authority to recommend caps on the price of certain prescription drugs it finds excessive. A second bill would require the state Department of Treasury to seek to enter into bulk purchasing arrangements for the most-frequently needed drugs of state employees and Medicaid recipients.

Singleton, amid a nationwide push to try to bring down drug prices, announced he was introducing both measures during a Statehouse news conference with several health care advocates, including AARP and the progressive group, New Jersey Citizen Action.

 

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