Prescription Drug Information

New Mexicans are struggling to afford prescription drugs they need, often having to choose between their medication and other necessities, like rent and groceries. Ninety percent of New Mexicans indicate they are very or somewhat concerned about the cost of prescription drugs. Nearly half of New Mexicans have skipped taking medication or have not filled a prescription because of costs.

 

Meanwhile, prices for 460 prescription drugs increased by an average of 5.2 percent in 2020 - more than triple the rate of inflation - and 35 big drug companies brought in $8.6 trillion in profits between 2000 and 2018. It's time to hold the industry accountable and improve outcomes for New Mexicans in need of life-saving medications.

 

In the 2024 legislative session, New Mexico passed HB33, the Prescription Drug Price Transparency Act, requiring manufacturers, PBMs, insurers, and others in the supply chain to report pricing data to the state. The first report on this data will be published by the state in the winter of 2025, and it will reveal where in the system excessive profit and gatekeeping are keeping medications inaccessible. After this, we will explore more regulatory policy options for the state, including the creation of a Prescription Drug Affordability Board to review individual drug prices and work within the system to achieve a lower price.