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RICHMOND, Va. — Today, SB271, known as the Affordable Medicine Act, patroned by Senator Creigh Deeds (D-Charlottesville), passed on the House floor by an overwhelming 95-4 bipartisan vote. The bill will now go back to the Senate for final approval before heading to Governor Spanberger’s desk.
The Affordable Medicine Act is a first-in-the-nation policy that will bring immediate cost savings to Virginians by extending Medicare-negotiated maximum fair prices to hundreds of thousands of people not enrolled in Medicare. The bill will also establish a Prescription Drug Affordability Advisory Panel to review prescription drug pricing statistics and make policy recommendations to the Governor and General Assembly on how to best keep medicine affordable. The bill increases transparency requirements for middlemen and will hold drug companies and pharmacy benefit managers accountable for price gouging.
Freedom Virginia Co-Executive Director Rhena Hicks released the following statement:
“Virginia is on its way to cementing its status as a national leader in lowering the cost of prescription drugs. The Affordable Medicine Act is a landmark piece of legislation and has now gained record bipartisan support in the House. Starting January 1, 2027, hundreds of thousands of Virginians are going to immediately benefit from millions in savings on more than 25 drugs. We’re grateful to each Delegate who voted today to ensure Virginians have more affordable prescription drugs. We look forward to the House companion passing in the Senate this week, and especially to Governor Spanberger signing this remarkable legislation into law.”
Companion legislation, HB483, patroned by Delegate Karrie Delaney (D-Fairfax), will be on third reading in the Senate later this week.
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