NJCA applauds signing of historic drug pricing reform bill

September 11, 2023

A Prescription Drug Affordability Council will help lower prescription drug costs for many New Jerseyans

Trenton—July 10,2023—New Jersey Citizen Action today joined lawmakers and advocates to celebrate Governor Phil Murphy’s signing of a landmark prescription drug pricing reform bill.  A2840/S1615 will establish a Prescription Drug Affordability Council and help rein in skyrocketing drug prices for New Jerseyans struggling with costs.

“It’s been a long road, but we finally have a law that puts us on the path of making prescription drugs more affordable for New Jerseyans,” said NJCA Healthcare Program Director Laura Waddell. “A Drug Affordability Council will help rein in prices at the pharmacy counter and ensure patients don’t have to choose between paying for lifesaving medicines or for other essential needs. We thank Senator Singleton and Assemblyman McKeon for tirelessly championing this legislation, and applaud Governor Murphy and all our elected leaders who supported meaningful drug pricing reform. We also thank all our New Jersey for Affordable Drugs campaign partners and the countless grassroots advocates and activists whose work made this day possible. NJCA looks forward to continue working with both Governor Murphy and our Legislature throughout implementation.”

A2840/S1615 combines pricing transparency with a mechanism to create prescription drug affordability policy reforms that will benefit all New Jerseyans. The legislation establishes a Drug Affordability Council of independent experts charged with analyzing key data from the pharmaceutical supply chain for cost drivers. This council will make policy recommendations to New Jersey’s executive and legislative branches focused on increasing affordability at the pharmacy counter. The council’s recommendations and activities will be open to the public, ensuring accountability. 

The pharmaceutical industry fought hard against this bill, but it unsurprisingly enjoyed widespread support among New Jerseyans. Similar legislation has passed in Colorado, Maine, Maryland, Minnesota, New Hampshire, Ohio, Oregon, and Washington, and is pending in 9 other states. 

 

Research shows that 57% of New Jerseyans continue to struggle to afford their health care. More than half  of New Jersey residents are concerned about being able to afford prescription medication, while 1 in 4 New Jersey adults report not filling a prescription, cutting a dose in half, or skipping a dose to make their medicine last longer. The affordability crisis has most severely impacted communities of color.   

“This is great news for me,” said Camden County resident Susan Farrell.  “I’m on a fixed income and I have a number of medical issues.  For so long, it’s been a monthly struggle trying to afford my medications and many times I am having to choose between the prescriptions I need to keep me going, or paying for my groceries, my rent, or doing my laundry.  It’s good to know that help is finally on the way.”