Romney offers bipartisan bill requiring federal report on nonprofit pharma groups

U.S. Sen. Mitt Romney (R-UT) recently introduced a bipartisan bill that would require the Government Accountability Office (GAO) to issue a report to Congress on nonprofit pharmaceutical organizations.

“Utahns and Americans across the country are strapped with skyrocketing prescription drug costs and it is increasingly difficult for them to receive the medicine they need,” Sen. Romney said. “We must explore ways to lower costs for medication and spur the research and development in new drugs.”

Specifically, the Advancing Affordable Medicines for Families Act, S. 4341, which Sen. Romney cosponsored with bill sponsor U.S. Sen. Jacky Rosen (D-NV), would direct the GAO to report on the impact that nonprofit generic drug companies have on lowering drug costs, addressing drug shortages, and accelerating the development of new drugs, according to the text of the bill. 

The report required under S. 4341 also would assess existing barriers to the success of nonprofit pharmaceutical organizations, and any potential actions Congress might take that would allow them to deliver benefits to the pharmaceutical market, according to the bill’s text.

“I’m proud to team up my efforts with Senator Rosen on this issue by requiring a report to look at how Congress can work with nonprofit generic drug companies like Utah’s Civica Rx on a bipartisan basis to lower drug costs, address shortages, and accelerate the development of new drugs,” said Sen. Romney.

The Senate bill, which has garnered support from Civica Rx and Medicines360, has been referred for consideration to the U.S. Senate Health, Education, Labor, and Pensions Committee.

Sen. Rosen noted that the rising cost of prescription drugs is negatively impacting the health and well-being of Americans. “This bipartisan legislation would explore the role that nonprofit pharmaceutical organizations play in this industry, and I’m glad to be working with Senator Romney on this important effort to bring down costs,” she said.