Menendez’s critical support on prescription costs is Just the beginning | Opinion

Much has been written about the bipartisan infrastructure bill and President Biden’s Build Back Better plan, both of which would have a positive impact here in South Jersey. As news reports of the implications and next steps are ongoing, our senior senator, Senator Bob Menendez, made some significant news that will have a positive effect for thousands of Burlington County families.

Menendez publicly endorsed a deal that negotiators have been working on for months — even years — that will allow Medicare to negotiate the cost of certain prescription medications.

His support for any plan to address outrageous prescription drug costs is critical, not only because the margins for power are so slim in Washington D.C., but also because he is an important, authoritative voice on this issue. As the senator representing a state that is home to fourteen of the world’s largest twenty pharmaceutical companies.

I am extremely pleased that Menendez has lent his voice in support of New Jersey residents who are struggling to manage the runaway costs of their prescriptions. This is critical when you consider that many have delayed or skipped their prescriptions altogether because they are too expensive. Making matters worse, the cost of prescription drugs in New Jersey has spiked 58% in recent years. Consider the toll of those higher costs on top of a global pandemic and rising inflation, and it’s clear New Jersey residents need help.

The good news is that Congress is close to delivering it. The Build Back Better bill that is currently being crafted and deliberated in Washington, D.C. includes a measure that, according to news reports, will allow Medicare to negotiate the prices of ten extremely expensive drugs in 2023, with more to come in 2025. It’s a good start.

And you know these reforms will make an impact when Big Pharma opposes it. Shortly after the deal was announced last week, their lobbyists and communications teams kicked into even higher gear, issuing a statement opposing the deal. But, unfortunately for Big Pharma, the time has come. These giant pharmaceutical companies have been making exorbitant profits off of even more exorbitantly priced drugs for far too long. They must not be allowed to take advantage of hard-working Americans and the prescriptions they need to live healthy, comfortable lives any longer.

It’s encouraging to see Menendez come out in support of this deal, but there is still a lot of work ahead. Now, the agreement must be translated into legislative text for Congress to consider, and both chambers must pass it.

I hope that Menendez will continue to use his influence to make sure that the promises made last week are kept. He can help accomplish that objective by also encouraging other senators, including Sen. Kyrsten Sinema, D-Arizona, and Sen. Joe Manchin, D-West Virginia, to stay in the fold. New Jersey residents are counting on it.

Stephen Steglik is deputy mayor of Mount Laurel.

This article originally appeared on Burlington County Times: Bob Menendez’s support on prescription costs is Just the beginning