King, Colleagues Call for Investigation into One-Size-Fits-All Cancer Medication

Statement

Today, U.S. Senator Angus King (I-Maine) joined several of his colleagues to call on the Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid Services (CMS) to investigate the impact that selling medicine in large one-size-fits-all vials has on the federal health care system and public health. The letter follows a New York Times report that nearly $3 billion is wasted annually on discarded cancer medicines because many drug companies only distribute the drugs in large vials that hold too much medication for most patients.

"Since Medicare, and many private insurance companies, charge patients co-payments equal to as much as 20 percent for prescription drugs, patients are paying more in out-of-pocket costs for drugs that end up in the trash bin," the Senators wrote. "What makes this situation even more alarming is the fact that patients, and the federal government, are already struggling with exorbitantly high prices for prescription drugs. Over the past few years, there have been a number of highly publicized incidents in which prices for certain drugs inexplicably skyrocketed -- resulting in significantly higher costs for families, insurers, and the federal government, as well as limiting access for those in need."