Freedom Virginia Statement on Results of Medicare Price Negotiations

The Inflation Reduction Act, passed in 2022 and championed by the Biden-Harris Administration, gave Medicare the authority to negotiate with pharmaceutical companies to bring down prescription drug costs. Over 193,000 Virginians enrolled in Medicare will see savings on 10 drugs selected for negotiations, including Eliquis, Stelara and Farxiga.

“This announcement is great news for Virginians who receive coverage through Medicare, and it will mean serious savings on prescriptions,” said Rhena Hicks, Executive Director of Freedom Virginia. “This action by the federal government shows how much Big Pharma has been jacking up prices on life-saving medicines — and it shows the power our government holds to stand up for consumers and take action to lower costs. Now, it’s time for the legislature and Governor Youngkin to take action and pass a Prescription Drug Affordability Board to save money for ALL Virginians. If Governor Youngkin hadn’t vetoed the bipartisan Prescription Drug Affordability Board bill, millions more Virginians would be on their way to saving money on medicine. It’s time to continue the bipartisan progress, and stand up to price-gouging Big Pharmaceutical companies by creating a Prescription Drug Affordability Board in Virginia.”

This year, a bipartisan coalition passed Prescription Drug Affordability Board legislation led by Del. Karrie Delaney in the House and Sens. Creigh Deeds and Bill Stanley in the Senate. Governor Youngkin vetoed the bipartisan bill.