Koehler sponsors bill to address escalating costs of prescription drugs

Posted on January 17, 2024
The board would consider a broad range of economic factors and would provide pharmaceutical manufacturers a chance to justify existing drug costs. (PHOTO:Dave Dahl)

By WMBD-TV

SPRINGFIELD – Illinois State Sen. David Koehler (D-Peoria) has sponsored a bill that will help address the rising cost of prescription drugs in Illinois.

According to a news release from the Coalition for Prescription Drug Affordability, Koehler and Illinois Rep. Nabeela Syed (D-Inverness) sponsored Illinois House Bill 4472.

The bill would create a Prescription Drug Affordability Board, which would act as an independent body with the authority to evaluate prescription drugs with high prices and set a reasonable rate for Illinois residents to pay.

The board would consider a broad range of economic factors and would provide pharmaceutical manufacturers a chance to justify existing drug costs.

It would also be able to set an upper payment limit once a fair payment rate is determined.

“This legislation would continue our efforts to protect consumers and their wallets,” Koehler said. “We have seen many instances in recent history where those who need life-saving medications can’t afford them. Illinoisans deserve a say against intimidating medicine costs.”

This is not the first time Koehler supported legislation that addressed drug prices in Illinois. He also supported the Illinois Generic Drug Pricing Fairness Act, which prohibited price gouging of off-patent and generic medication. That act took effect on Jan. 1. 2024.

If HB 4472 passes, Illinois would be the ninth state to create a Prescription Drug Affordability Board.

WMBD-TV can be reached at [email protected].

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