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Report Comes as Senate Is Slated to Vote on Prescription Drug Affordability Board Legislation Today
RICHMOND, Va. — Today, the Richmond Times-Dispatch published a story about the massive increase in pharmaceutical companies’ lobbying spending aimed at stopping a Prescription Drug Affordability Board.
The story explored the history of legislation to create a Prescription Drug Affordability Board, including the efforts of pharmaceutical companies and affiliated groups against the idea. The RTD reported that pharmaceutical interests spent more than $400,000 on Virginia lobbying in 2024, double the amount spent in 2023 when the bill first passed a chamber of the General Assembly.
The Prescription Drug Affordability Board (PDAB) is an independent body of health and medical experts appointed by the Governor, House, and Senate who use proven, data-based strategies that are already working in other states to lower prescription drug prices. The PDAB will consider a broad range of economic factors and allow pharmaceutical manufacturers the opportunity to justify existing drug costs when determining upper payment limits for up to 12 high-cost drugs a year. The Senate is expected to vote on legislation to establish a PDAB in Virginia this afternoon.
The story cites the crisis of expensive drugs plaguing Virginians:
“In 2023, manufacturers raised the price of 112 medicines higher than the rate of inflation, according to the Center for American Progress. Medicines have gotten so expensive, some people stretch out their prescriptions or choose between paying for medication or their electric bill, supporters say. Americans pay far more for medicines than other wealthy countries.”
The patron of the bill, Delegate Karrie Delaney (D-Fairfax), was quoted in the article:
“It is a very telling tactic to say, ‘We’re going to oppose a piece of legislation that has the potential to lower the price of drugs in Virginia, and we’re going to spend over $400,000 to do it.’”
Freedom Virginia co-Executive Director Rhena Hicks released the following statement:
“Today’s groundbreaking story in the Richmond Times-Dispatch shows the extreme degree that Big Pharma will go to in order to keep Virginians paying ridiculously high costs for medicine. Big Pharma doubled their lobbying spending in Virginia because they want to keep lining their own pockets at Virginians’ expense. Hardworking families across party lines strongly support a Prescription Drug Affordability Board, and we look forward to legislators standing up to Big Pharma’s lobbying campaign that puts profits over people.”
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