U.S. Sen. Tina Smith calls for tighter restrictions on big pharma

U.S. Sen. Tina Smith said Wednesday, Sept. 5 that the health and financial well-being of families in Minnesota and across the country continue to be harmed by the skyrocketing price of prescription drugs. In response, she introduced legislation—which is also supported by Minnesota Sen. Amy Klobuchar—designed to hold large pharmaceutical companies accountable for high prices and bring down costs for both consumers and taxpayers.

Senator Smith said her bill, the Affordable Medications Act, will increase transparency for drug companies that are setting exorbitant prices, end the restriction that prevents the federal Medicare program from using its buying power to negotiate lower drug prices for its beneficiaries, and curb drug company monopoly practices that keep prices high and prevent less expensive generics from coming to the market.

WTIP’s Joe Friedrichs spoke with Sen. Smith about the Affordable Medications Act.

You can read a summary of the bill here.