Nan’s Plan to Lower Prescription Drug Prices

No Ohioan should have to choose between keeping food on the table and paying for life-saving medicine, no matter where they live in our state. Yet for too many, and for too long, the prescription drugs they need are being priced out of their reach, while wealthy drug companies are seeing record profits. Research has shown that drug prices in the United States are two to three times higher than other developed countries and that the increase in prices has not been driven by any clinical evidence, all while drug company CEOs line their pockets with increased profits.

Nan knows this is unacceptable and that’s why, once elected, she’ll fight to lower drug prices for Ohio families.

Throughout his career, Mike DeWine has stood on the side of big drug companies while the industry has helped to bankroll his campaigns with hundreds of thousands of dollars. Unlike DeWine, who has largely passed the buck on skyrocketing drug prices as governor, Nan will take real action instead of just making empty promises. Nan has already announced that one of her first actions as governor will be to issue an executive order finally outlawing price gouging practices in our state, but she won’t stop there when it comes to lowering costs.

As governor, Nan will:

• Fine Drug Companies that Unfairly Raise Prices — Nan will use the bully pulpit of the governor’s office to pass legislation that will levy fines against greedy drug companies that increase drug prices without clinical evidence. There have been bipartisan efforts in other states to fine drug companies who increase the cost of drugs without good reasons. Such legislation will require drug companies to report price increases year over year and clinical evidence to support such an increase. If the evidence is insufficient, the company would face a steep financial penalty. Nan’s Executive Order outlawing price gouging practices will also help to prevent companies from raising prices.
• Cap Insulin Costs at $30 per Month — In recent years, the price of insulin has more than tripled and many diabetics report rationing to save money. Investigations have found that drug companies have aggressively raised the price of insulin without an improvement in their products. 19 states have placed caps on insulin costs, including Kentucky, which recently capped out of pocket costs at $30 a month. It’s time for Ohio to do the same. Bipartisan legislation has been introduced in our state, but lobbyists and special interests have blocked any movement. As governor, Nan will work with leaders on this issue like Rep. Beth Liston and Sen. Hearcel Craig to introduce and pass legislation to force insurance companies to cap the monthly cost of insulin at $30.
• Stop Subsidizing Drug Company Profits — Ohioans shouldn’t have to pay more for medications than people in other countries. That’s why Nan will work with consumer advocates to pass common sense legislation to increase competition and tie drug prices to international reference rates, ensuring the savings go directly to Ohio families.
• Act on Expert Recommendations to Lower Prices — In 2020, Ohio’s Prescription Drug Transparency and Affordability Advisory Council published six recommendations to lower Ohio drug prices. Gov. Mike DeWine and the GOP-controlled state legislature have largely ignored these recommendations. As governor, Nan will work with her department heads and the General Assembly to take action on these policy solutions to lower costs.
• Create more oversight and transparency in our health care systems. Like so many other industries in our state, health care, pharmaceutical, and insurance companies have been allowed to get rich on the backs of Ohio families with very little oversight. That’s why we spend more money on healthcare than most states and rank near the bottom in nearly every key outcome like infant and maternal death rates, drug overdoses, and long term care. The festering issues with Pharmacy Benefits Managers ripping off Ohio families is only the latest example. As governor, Nan will fight to create an independent health oversight board like they’ve done in Oregon and Massachusetts to ensure a more competitive marketplace built on consumer oversight and transparency.

Nan will fight for your pay to go up, your bills to go down, and your state government to finally work for you. And that includes taking real, substantive action to lower skyrocketing prescription drug prices for struggling Ohioans.

Nan has stood up to drug companies before: while she was mayor of Dayton, the city was the first in Ohio and one of the first in the country to successfully sue the drug companies who caused the opioid epidemic. This lawsuit led to hundreds of millions of dollars for Ohio’s communities to begin to clean up this crisis and help those struggling with addiction.