Prescription drug prices the topic at Democratic luncheon

The featured speaker at Monday's Democratic luncheon will be Christina Lopez, who will be pinch hitting for Kate Marshall, Nevada's 35th lieutenant governor. Marshall, previously announced as the speaker, found herself unable to attend due to a last minute schedule change, so Ms. Lopez, a close associate and former staffer, was asked speak on her behalf.

Lopez will explain why the former lieutenant governor is speaking out strongly in support of AB250, The Affordable Medicine Act, a measure that will cap retail prices for specific, critically needed prescription drugs at Medicare levels, representing discounts ranging between 20 and 60 percent.

The Affordable Medicine Act, sponsored by Democratic Assemblywomen Natha Anderson and Venicia Considine, builds on provisions of the federal Inflation Reduction Act that allow Medicare to negotiate drug prices, and makes those prices available to all Nevadans, including the 83% not on Medicare.

Under current law, if you're a 65-year-old diabetic, you will get the Medicare fair price for your meds. But if you're 64 or younger, you will pay whatever the pharmaceutical companies want to charge. Those companies raised prices on almost a thousand drugs so far this year, and nearly half of all new drugs cost more than $150,000 a year. That's because new drugs have limited competition on the open market and lack generic alternatives.

It is hardly surprising that Altarum, a research and consulting non-profit that focuses on health care, found in a 2022 survey that over half of all Nevadans worry about being unable to afford their prescription drugs. A third have already resorted to drastic measures in the previous 12 months due to cost, like not filling a needed prescription, cutting pills in half, or skipping a dose.

The high level of public concern about this issue is also reflected in a poll released on May 5th that found 71% of Nevadans favor having drug prices capped at Medicare levels. That's ahead of raising the minimum age to purchase a rifle to 21 at 68% and having abortion rights added to the state constitution at 62%.

Kate Marshall told Channel 2 News that the feds are looking at negotiating lower prices for 50 commonly-prescribed drugs. Under The Affordable Medicine Act, Nevada would apply specific criteria to identify just ten that would be named in September. As Marshall told Channel 2, “They’re looking at drugs for asthma, drugs for diabetes, drugs for prostate cancer, for breast cancer, for lymphoma, drugs to prevent stroke. These are really important for Nevada.”

Among groups outspoken in support of AB250 are Battle Born Progress, New Day Nevada, the Committee to Protect Health Care and the Nevada Diabetes Association. Among those opposed is the Culinary Union, which operates two of the state's busiest pharmacies. Lobbyists for the pharmaceutical industry say the bill might be on shaky legal ground “because it would restrict the goal of federal patent law.” If passed, the bill would not go into effect until 2026 to allow for litigation delays and to give insurance companies time to prepare.

Sponsored by the Democratic Men's Committee, this event is scheduled for 1:00 PM on Monday, May 15th, and may be attended in person at Black Bear Diner, inside Max Casino, or online via Zoom.

Christina Lopez will take the floor after all the lunch orders have been taken, around 1:30. Those wishing to be on distribution for luncheon Zoom links should contact Rich Dunn at richdunn@aol.com.