Syed Passes Bill to Rein-In Big Pharma Profiteering

SPRINGFIELD, Ill. — State Rep. Nabeela Syed, D-Palatine, passed monumental legislation years in the making on Thursday that would create a Prescription Drug Affordability Board to review the affordability and accessibility of medication and set upper payment limits if deemed necessary.

“We have seen many instances where those who need life-saving medications can’t afford them. Illinoisans deserve a say against intimidating medicine costs,” Syed said. “For too long, billion-dollar drug companies have had a free hand to push up the prices of lifesaving and life-enabling medications out of all proportion with the cost of producing them. We are standing up for the most vulnerable—those who are making heartbreaking decisions to ration their medication or not take it at all because they can’t afford it.” 

Syed’s House Amendment 1 to Senate Bill 3496 creates a state Prescription Drug Affordability Board. The five-member board is to consist of experts in health care economics, pharmaceutical markets, pharmacy, and clinical medicine who are not members, employees, board members of, or consultants to a drug manufacturer or trade association for drug manufacturers. Board members would serve for five years.

The board is permitted to meet in closed session to discuss proprietary information, but will otherwise meet in open session, with meetings announced at least three weeks in advance. Opportunities for public comment at open meetings are required, and the board is also required to solicit public input as to which drugs are thought to be creating affordability challenges.

“It’s past time for medicine to be about people before profit,” Syed said. “The industry has had years to voluntarily do right by the billions of people worldwide who depend on modern medications to stay alive and healthy. Illinois families, at least, will soon be done waiting.” 

The bill passed the House with only Democrats in support, and now goes back to the Senate on concurrence.