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Bill to Lower the Cost of Medicine, Hold Big Pharma Accountable Will Now Go to Governor Youngkin
RICHMOND, Va. — Today, bipartisan legislation to establish a Prescription Drug Affordability Board to lower the cost of medicine passed the Senate by a 26 to 14 vote. HB1724, patroned by Delegate Karrie Delaney (D-Fairfax), passed the House on January 31 in a bipartisan 52 to 44 vote. It will now move to Governor Youngkin’s desk.
The Prescription Drug Affordability Board legislation continues to build bipartisan momentum, increasing from a 25-15 vote last year to a 26-14 vote today.
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.
“I’m pleased that this crucial cost-saving legislation to establish a Prescription Drug Affordability Board has once again passed both chambers,” said Delegate Delaney. “People across the political spectrum understand the cost of medicine does not have to be this high. Major pharmaceutical companies are driving up the prices of life-saving medications and harming millions of Virginians. We must ensure fair and affordable prescription drug costs, and I hope the governor will sign this bill to lower the cost of medicine for millions of Virginians.”
In August, Medicare announced lower prices for ten high-cost prescription drugs after successfully negotiating with drug companies for the first time ever. Over 150,000 Virginians will see savings benefits starting January 1, 2026, but there are more than 7 million Virginians not on Medicare who would benefit from the cost savings of a PDAB.
“This legislation is incredibly important for millions of Virginians, including myself,” said Virginia Beach resident Dianne Creekmore, who has type-2 diabetes. “Right now, I have $1,294.60 worth of medication waiting for me at the pharmacy that I can’t afford. I won’t be able to get my medication this month, and I’m not the only one. We need this legislation in Virginia to bring down the high cost of medicine and to ensure no one has to go without life-saving medication. I hope the governor will prioritize Virginians like me and sign this bill.”
The Richmond-Times Dispatch today published a story about the massive increase in pharmaceutical companies’ lobbying spending from 2023 to 2024. The RTD reported that pharmaceutical interests doubled their spending from 2023 to over $400,000 in 2024.
“We’re thankful to see bipartisan legislation to create a Prescription Drug Affordability Board in Virginia has passed the General Assembly,” said Freedom Virginia co-Executive Director Rhena Hicks. “As someone who lives with type-1 diabetes, I know it can be life-threatening if you don’t have access to your medications. A PDAB will hold pharmaceutical companies accountable for skyrocketing prescription drug prices and take steps to lower the cost of medicine for millions in Virginia. We hope Governor Youngkin will stand with hardworking Virginians over pharmaceutical companies and sign this bill.”
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