Virginia lawmakers target the high cost of prescription drugs

RICHMOND, Va. (WDBJ) – The high cost of medication has gotten the attention of Virginia lawmakers.

And a bill that would create a prescription drug affordability board is moving forward in Richmond.

Senate Bill 274, introduced by Sen. Creigh Deeds (D-Charlottesville) reached the Senate Commerce and Labor Committee on Monday.

“I take Skyrizi for psoriasis and my copays for injections can reach as much as $8,000, Fairfax County resident Irvin Varkonyi told the committee.

And a representative of AARP Virginia explained how thousands of other Virginians view the problem.

Jared Calfee is the organization’s Associate State Director.

“The skyrocketing cost of prescription drugs is the issue that we hear about the most,” Calfee said. “We took a survey last summer and found that two-thirds of Virginia voters over the age of 18 are taking prescription medications. All voters over the age of 18, two-thirds are taking prescription medications, so this issue impacts everyone.”

The board would have the power to study the affordability of drugs, and set an upper limit on the price of those it chooses to review.

Opponents of the legislation said it would have a negative impact on economic development and biotech research. And they questioned its effectiveness in other states.

Chris Whyte spoke as a representative of the Pharmaceutical Industry.

“No state that has passed this legislation and set up a prescription drug affordability board has saved a patient a dime,” he said.

“I think you have to examine this in every state where it’s been tried before you can say it’s been a failure across the board,” Deeds countered. “And I think in certain states, Colorado and Minnesota for example, they’ve had some success. There’s no reason to think we couldn’t do what others can’t do as well.”

The Commerce and Labor Committee referred the bill to the Senate Finance Committee.

Similar legislation is also advancing in the House of Delegates.

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