Democratic leaders in the House and Senate have introduced two bills that could reduce the cost of prescription drugs.
While pharmaceutical experts say research and advertising cause prescription drug prices to rise, Democratic leaders say Michigan can utilize its buying power to reduce the cost of drugs for consumers.
Legislators say if the two bills were passed, Michigan would be able to use its purchasing power as well as that of other states to buy drugs in bulk at a lower cost than buying drugs individually. Leaders say the plan could save consumers at least $64 million each year.
A similar Republican bill, introduced by Senator Bruce Patterson, would allow states to band together to purchase drugs in bulk at lower rates in order to benefit seniors at or below the federal poverty line.
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