State assemblyman introduces bill to decrease cost of prescription drugs in New Jersey
A New Jersey lawmaker is introducing a bill that is intended to decrease the cost of prescription medicine.
Gov. Phil Murphy announced his support of Assemblyman Troy Singleton’s bill during an event at the Willingboro Senior Center on Monday afternoon.
The bill would allow the state to make bulk purchases of prescription drugs and increase transparency on how much the medicines cost.
"We're going to pull back that curtain and we're going to know. There's going to be data reporting as it relates to every segment of the market. There's going to be an analysis. They're going to have to be licensed. And those discounts are no longer going to go to profits. They're going to go where they should - back to the consumer, back to us,” Singleton said.
But the pharmaceutical industry opposes these measures and claims they could cause drug makers to leave the state.