Senator Wyden discusses lowering drug prices

MEDFORD, Ore. — Oregon U.S. Senator Ron Wyden met with some local pharmacists on Tuesday to discuss his new bill aimed at lowering prescription drug prices across the country.

The senator’s visit to “Lone Pine Drug” in East Medford was his 6th stop on his tour of small pharmacies this summer.

The bipartisan legislation introduced by Republican Iowa Senator Chuck Grassley and Senator Wyden in July hopes to stop price gouging between consumers and companies by forcing the company to pay a rebate or money back to Medicare.

“Insulin went up thirteen-fold. Well, insulin is not thirteen times better. Only thing that happened is it has a higher price tag because they can get away with it,” said Oregon Senator Ron Wyden.

According to the Congressional Budget Office, the bill will save tax payers around 100 billion dollars, save consumers 27 billion dollars out of pocket, and reduce premiums by 5 billion dollars.

Senator Wyden says the bill made it through the Senate Finance Committee and is ready to go to the floor this Fall.

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