SPRINGFIELD, Ill. – Big pharmaceutical corporations jacking up the costs of generic prescription drugs could face serious financial penalties following legislation by state Rep. Nabeela Syed, D-Palatine, which just passed the State House of Representatives and is set to be heard in the Senate in coming weeks.
“Thousands of Illinoisans are dependent on generic and off-patent prescription drugs for their health. When big pharmaceutical corporations jack up prices on these medications, they force people to pay a ransom to stay healthy,” Syed said. “Illinoisians deserve peace of mind knowing that the cost of their lifesaving prescriptions will not triple overnight. Lifesaving medicine is only lifesaving to those who can afford it.”
House Bill 3957 clearly defines and outlaws price gouging of generic and off-patent prescription drugs, and empowers the Attorney General’s office to investigate manufacturers for violations.
House Bill 3957 passed the House with strong bipartisan support. State Senator David Koehler, D-Peoria, will be carrying the measure through the State Senate.
“We must send a clear message to pharmaceutical companies that take advantage of Illinoisans by charging exorbitant prices for necessary medication,” Koehler said. “It’s time we enact reforms that protect patients – allowing them to afford drugs they desperately need – and drive down the costs that have burdened employers and taxpayers alike. This bill does just that.”