Senate Finance Committee Chairman Sen. Chuck Grassley, R-Iowa, is questioning the recent move by Cigna and Express Scripts to cap out-of-pocket insulin costs for some patients at $25 per month.
"Why couldn't this have been done years ago?" Mr. Grassley questioned in a response to Cigna and Express Scripts' announcement. "It shouldn't take bad press and congressional scrutiny," to lower costs for "a drug that's been on the market for nearly a century."
The announcement of the insulin price cap comes just one week before a Senate hearing that questions the role of pharmacy benefit managers in the skyrocketing prices of prescription drugs.
Mr. Grassley said that if this is a viable option for one prescription drug, the same method should be considered for other "inexplicably high-priced drugs."
"Pharmaceutical companies, health plans and pharmacy benefit managers need to stop pointing fingers at each other and focus on helping patients and protecting taxpayers. This is an instance where they came together to make insulin more affordable for those who rely on it. It shouldn’t be a one-time thing. We need to see more of it," he said.
Read the full statement here.