Sen. Reny bill to reduce prescription drug costs and strengthen the Prescription Drug Affordability Board heads to the Governor’s desk

AUGUSTA — On Wednesday, June 25, the Maine Senate voted to send LD 697, “An Act to Direct the Maine Prescription Drug Affordability Board to Assess Strategies to Reduce Prescription Drug Costs and to Take Steps to Implement Reference-based Pricing,” to the Governor’s desk. This bill, sponsored by Sen. Cameron Reny, D-Bristol, aims to strengthen the Maine Prescription Drug Affordability Board and reduce prescription drug costs.

“Maine people deserve access to affordable medications — we should not have to choose between our health and financial stability,” said Sen. Reny. “Prices for prescription medications have been too high for too long, particularly for older Mainers, those with disabilities, people with chronic illness, and lower-income families. With this bill, we take a meaningful step toward reducing prescription drug prices and providing the relief we need.”

If it becomes law, LD 697 would add one non-voting member with health data expertise to the Maine Prescription Drug Affordability Board to advise the Board as it considers cost reduction strategies for drug procurement by health care providers, ways to reduce the rate of growth in prescription drug prices, and how to reduce cost barriers for consumers. The bill requires the Board to research a variety of strategies for reducing drug prices and then provide recommendations to the Legislature on the most effective policies for Maine.

LD 697 now heads to the Governor’s desk for her signature.

Sen. Reny represents Maine Senate District 13, which includes most of Lincoln County and the towns of Washington and Windsor.

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