Yesterday the House Ways & Means Committee voted 40-0 to advance Congressman Steven Horsford’s (NV-04) SPIKE ACT – bipartisan legislation to end price gouging by requiring pharmaceutical companies to justify large price increases
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Excerpt From Congressman Horsford’s Remarks: The drug price crisis has become all-too familiar and it is also extremely personal. It is very personal for me. I have experienced and suffered from health complications. And, as a result, I will depend on prescription drugs for the rest of my life. And that is the reality for not only my family, but for countless other Americans. Especially for those who live with diabetes. It is unconscionable that drugs like insulin, which have been available for nearly a century are becoming inaccessible. Yet from 2002 to 2013, we saw the total cost of managing diabetes in the United States increase dramatically – from $92 billion in 2002 to $263 billion in 2013. That period witnessed an increase of 197 percent in the price of insulin. This is obscene. And the American people are owed a justification for these astronomical prices increases.