August 12, 2021

Retirees Applaud President Biden’s Forceful Call for Action to Lower Prescription Drug Prices

Medicare Drug Price Negotiation Can Provide Dental, Hearing and Vision Benefits for Seniors

Statement by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding President Biden’s speech today regarding lower prescription drug prices:

“The Alliance for Retired Americans applauds President Biden’s call today for Congress to take action to lower drug prices by allowing Medicare to negotiate a better deal with the wealthy pharmaceutical corporations. We also strongly support capping the amount that Medicare beneficiaries must spend out of pocket each year.

“Americans pay the highest prices in the world for prescription drugs and older Americans bear the brunt of it. Our recent poll of voters age 65 and above found that 87% of seniors — Republicans, Democrats and Independents — overwhelmingly support allowing Medicare to negotiate lower prices.

“The only reason that this common sense policy does not exist today is because the drug corporations want to protect their monopoly power. They have spent hundreds of millions of dollars to keep prices high. 

“Like President Biden, the 4.4 members of the Alliance are calling on Congress to put patients ahead of profits. Our grassroots activists are in this fight for the long-run and are committed to helping President Biden make Medicare drug price negotiation a reality.”

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Contact: Lisa Cutler,  lcutler@retiredamericans.org