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Congress Needs to Do Something About Drug Prices - AARP

Congress Needs to Do Something About Drug Prices - AARP 2025

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The 2005 AARP Voters' Guide for the Virginia Lieutenant Governor election provides a nonpartisan overview of candidates' positions on key issues affecting older Virginians, including long-term care reform, access to services, public transportation funding, and payday loan regulations. AARP gathered responses from candidates William T. Bolling (R) and Leslie L. Byrne (D), allowing them to express their support or opposition to various proposals aimed at improving the quality of life for seniors. The guide emphasizes the importance of informed voting and encourages readers to engage with candidates on these critical issues.

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Who controls drug prices in the US?

Higher cost to the manufacturer is one of the most common causes of a price increase, and you will see the difference passed on to you at the pharmacy. Shortages can affect prices. If a popular medication isnt widely available, the price may spike (sometimes temporarily, sometimes not).

Does the FDA control drug prices?

The FDA does not have the authority to regulate the prices of drug products in the United States. Manufacturers, distributors, and retailers establish these prices.

Does the federal government regulate drug prices?

The federal government does not regulate drug pricing. However, it encourages the development of generic drugs through an abbreviated approval process. For example, the brand Lipitor (a statin) was priced at about $230 for a 30-day supply. The generic, atorvastatin, is priced under $25nearly a 90 percent savings.

Is there a $2000 cap on prescription drugs for seniors?

The manufacturer sets a sticker price. But thats not the price most drug distributors pay for it. Thats because distributors are able to negotiate lower prices and receive rebates and other incentives. A rebate can be paid by the manufacturer to the distributor as part of their final negotiated price.

Why is my prescription suddenly so expensive?

There is increasing consensus that comprehensive reforms are needed to curb the rising costs of specialty drugs and growing bipartisan agreement on the basic principles that these reforms must address (1) constraints on yearly inflation of drug prices, (2) limits on practices to extend patents and restrict generic

Who sets drug prices in the US?

Pharmaceutical companies that create drugs and other medicines control the prices. While they are involved in the regulation of the industry, the U.S. government is not involved in setting prices.

Who controls the prices in the US?

Price controls are normally mandated by the government in the free market. They are usually implemented as a means of direct economic intervention to manage the affordability of certain goods and services, including rent, gasoline, and food.

Congress Needs to Do Something About Drug Prices - AARP 2025

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