Lawmaker Wants To Punish Price Gougers
CHICAGO (WBBM NEWSRADIO) -- A state lawmaker is pushing a measure that would crack down on drug manufacturers that unjustifiably raise the prices of generic prescription drugs.
WBBM Political Editor Craig Dellimore reports.
People expect generic versions of prescription drugs to cost less.
But State Representative Will Guzzardi says some companies hike the price of lifesaving drugs because they can.
"They buy the rights to manufacture that drug, the exclusive rights to manufacture that drug, And then they raise the prices exorbitantly with no price controls whatsoever," says Guzzardi.
He says his bill would let the Illinois Attorney General sue companies for such price gouging.
Katie Jordan with the Illinois Alliance of Retired Americans says her group supports it.
"Raising prices simply because seniors need their prescriptions, and they know it, is simply unconscionable and it should be illegal," says Jordan.
Drug makers found guilty could be forced to lower prices, pay back consumers and face fines.