Drug price control bill introduced

Legislation was introduced on Wednesday that seeks to limit the prices paid by senior citizens for pharmaceuticals. The Prescription Drug Fairness for Seniors Act of 2001 requires manufacturers to sell prescription drugs for Medicare recipients to pharmacies at the average wholesale price used in Canada, France, Germany, Italy, Japan and the U.K. The bill was sponsored in the House by Rep. Tom Allen (D-Maine) with over 100 co-sponsors, and in the Senate by Sen. Tim Johnson (D-S.D.) with two co-sponsors. Allen told reporters the legislation would result in an average savings of 40% on prescription drugs for Medicare recipients. ...