Despite massive spending on lobbying and campaign contributions, the big drug companies are slowly losing their stranglehold on state legislatures across the country. In Maryland, Maine, Oregon and Colorado, consumers, patients, public health advocates and providers demanding more affordable prescription drugs have succeeded in passing landmark legislation that will finally help manage runaway drug costs.
The New Mexico Legislature should build on this momentum and pass a Prescription Drug Affordability Board next session to help reduce the cost of health care and benefit all New Mexicans.
The heartbreaking stories we’ve all heard about family members, friends and neighbors who continue to struggle to afford the medications they need is backed up by data. A statewide survey conducted by GBAO Strategies found that nearly half of New Mexicans (44 percent) have skipped taking medication or not filled a prescription because of cost concerns. Even during the pandemic, pharmaceutical manufacturers have continued to raise the price of drugs above the rate of inflation. In 2020, prices for 460 prescription drugs increased by an average of 5.2 percent — more than triple the rate of inflation — according to an analysis from the health care research firm, 3 Axis Advisors.
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