Everyone supports finding ways to address skyrocketing prescription drug prices that seem to keep going up year after year. Unfortunately, SB 5995 doesn’t address that problem. The bill makes matters worse for Washington patients and our economy.
This bill exempts the true driver of prescription drug cost increases that impact patients and taxpayer programs – brand and specialty drugs that make up 74% of pharmaceutical spending but only account for 11 percent of drugs. Generic drugs save Washingtonians billions per year and make up only 26% of pharmaceutical spending despite representing 89% of all prescriptions dispensed. However, SB 5995 targets the generic drugs that save us so much money, creating new burdens that will jeopardize savings from generics.