Minnesota Senate Media Services
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Session Update: Reducing the Costs of Prescription Drugs
Posted
February 25, 2021
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73
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February 25, 2021
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23:55Now PlayingA bipartisan pair of lawmakers is pursuing a first-in-the-nation approach to reduce the cost of some prescription drugs. Senator Carla Nelson, R-Rochester, and Representative Jennifer Schultz, DFL-Duluth, held a press conference Wednesday, February 24, to introduce a bill that will expand access to less expensive biosimilar products by requiring health plans and pharmacy benefit managers to offer coverage.
Rep. Schultz said that biologic prescription drugs “have a monopoly essentially.” According to Senator Nelson, “Biologics are the significant driver of prescription drug spending in the U.S., accounting for about forty percent of total prescription drug spending.” Nelson said she wants to ensure Minnesotans have access to the less expensive biosimilar products.
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