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Virginians Can’t Afford The Big Pharma-Backed HB 1041
New Big Pharma-backed legislation introduced in Virginia is designed with one goal in mind: to increase Big Pharma’s profits.
HB 1041 will do nothing to lower prescription drug costs, in fact, it will increase prescription drug costs while padding pharmaceutical companies’ bottom line, while hurting hardworking Virginia families and patients.
It’s up to lawmakers to reject this problematic bill and protect Virginians’ pharmacy benefits.
Visante estimates that fiduciary mandates on PBMs in Virginia would cost the fully insured commercial market $1.574 billion from 2023-2032.
Legislation targeting PBMs’ ability to negotiate drug rebates would inhibit access to more affordable, comprehensive coverage for patients.
“Delinking” mandates would undermine PBM compensation and put prescription drug benefits at risk resulting in improper drug utilization as costs for patients rise.
Virginia families cannot afford – and shouldn’t have – to pay more for prescription drugs or risk losing access to their medications because of misguided legislation.
Big Pharma alone sets the cost of prescription drugs, while pharmacy benefit companies work on behalf of patients as a check to drug manufacturer’s pricing power. We have to protect these pharmacy benefits to protect Virginia Patients.
Virginia lawmakers must reject Big Pharma-backed HB 1041
It will only make prescriptions more expensive, undermine patient safety and make it harder for Virginia patients to access the medicines they need to manage their health.
