Vagnozzi Renews Push for Prescription Drug Legislation
Recent AARP study shows pharmaceutical corporations raised prices to offset Medicare discount card
Tuesday, June 29, 2004

FARMINGTON HILLS – State Representative Aldo Vagnozzi has renewed his push for prescription drug legislation following AARP’s recent announcement that it found drug prices have risen by nearly triple the rate of inflation in the first three months of this year – just before Medicare began its pharmacy discount card program.

“The pharmaceutical industry is the most profitable industry in the world,” Vagnozzi said. “A big percentage of pharmaceutical research is financed with taxpayer money – that’s our money. We deserve fair drug prices in return for that investment. Some folks, who are not covered by insurance or on fixed incomes, have to choose between groceries and expensive medication. For these multibillion-dollar ‘fat cat’ corporations to gouge people is even more of an outrage.”

Vagnozzi recently hosted a Town Hall Meeting that drew more than 50 people to the Detroit Baptist Manor in Farmington Hills, Michigan. National and local experts on the new Medicare law were on hand to discuss how the plan will impact area senior citizens, as well as to explain what Michigan is doing at the state level to lower prescription drug prices.

Vagnozzi, a leader in the fight to lower the cost of prescription drugs, especially for the estimated 1.8 million Michigan residents who have no prescription drug coverage and pay the highest prices for their medications, is renewing his push to pass prescription drug legislation.

Vagnozzi is co-sponsor of the Drug Fair Pricing Act, which would allow Michigan to become a bulk purchaser of prescription drugs. The state would then negotiate substantial rebates from drug companies and pass the savings on to Michigan residents who lack adequate prescription coverage. He also introduced the Great Lakes Alliance for Affordable Drugs Act (GLAAD), which would form a multi-state compact to purchase prescription drugs.

A similar multi-state plan between Michigan and Vermont, and backed by Vagnozzi and Governor Jennifer M. Granholm, was rejected in February by the federal Centers for Medicare and Medicaid Services. The pact saved Michigan taxpayers $40 Million in drug costs in 2003, including $8 Million from multi-state bargaining.

“The pharmaceutical companies are playing a cruel joke on seniors and hard-working families by swindling them out of their hard-earned money,” said Vagnozzi. “The time for action is now --- every moment of delay means deteriorating health and unease about the future.”