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RICHMOND, Va. — For the first time, both chambers in the Virginia General Assembly have passed legislation to establish a Prescription Drug Affordability Board (PDAB), which will allow Virginia to set reasonable rates for certain high-cost, burdensome prescription drugs.
Senator Creigh Deeds’ (D-Charlottesville) Senate Bill 274 passed the House today on a bipartisan 50-47 vote. The bill passed the Senate on Feb. 13 on a bipartisan 23-16 vote. It now heads to Gov. Glenn Youngkin’s desk.
“Today, the General Assembly took a huge bipartisan step forward to lower the cost of medicine for millions of Virginians,” said Senator Deeds. “Thank you to Senator Stanley and Delegate Delaney for leading on this legislation. Virginians strongly support a Prescription Drug Affordability Board, across party lines. Now, it’s time for Gov. Youngkin to take action on this bipartisan legislation to make medicine more affordable for Virginians.”
A PDAB would lower the cost of medicine by setting cost limits on how much Virginia consumers will pay for certain medications. The Board would be an independent body of health and medical experts who would use data-based strategies to lower prescription drug prices. PDABs have been established in both Republican and Democratic administrations across eight states, including most recently in Minnesota and Colorado.
“Today, a bipartisan group of legislators stood together to put Virginians ahead of big pharmaceutical companies’ profits,” said Freedom Virginia Executive Director Rhena Hicks. “So many Virginians face the devastating decision every day between their bills and the medicine they need. This bill will help keep medicine affordable and keep Virginians alive and healthy. Governor Youngkin has made affordability a cornerstone of his governorship, and he should stand with the people of Virginia and sign this legislation.”
Both Democratic and Republican voters are concerned about the cost of prescription drugs. Just this week, a national poll released by KFF Health showed that 55 percent of voters worry about being able to afford prescription drug costs. According to a 2023 survey conducted by Christopher Newport University’s Wason Center for Civic Leadership, three-fourths of Virginia voters support the creation of a Prescription Drug Affordability Board.
Delegate Delaney’s companion bill to Senator Deeds’ SB 274, House Bill 570, passed the House Feb. 13 on a bipartisan 52-46 vote and will be heard on Monday, Feb. 26 in the Senate Commerce & Labor Committee. This session, the legislature also unanimously passed Senator Jennifer Carroll Foy’s (D-Prince William) Senate Bill 660 and Delegate Atoosa Reaser’s (D-Loudoun) House Bill 1402, which would increase transparency for pharmacy benefit managers in an effort to lower the cost of prescription drugs.
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