U.S. Sen. Kirsten Gillibrand will be in Canandaigua Monday to talk about her efforts to drive down drug costs for seniors. Gillibrand plans to announce legislation during a visit at 11 a.m. at Ferris Hills at West Lake senior living community. Ferris Hills is off West Lake Road, 1 Ferris Hills, in Canandaigua.
Gillibrand said her legislation would fix the problem of current law that allows pharmaceutical companies to raise the price of their medication at any time with no justification. Gillibrand said there is no mechanism to prevent a manufacturer from spiking the price of its drugs year after year, and pharmaceutical corporations are not required to report the increases in the price of their drugs to the public.
In January 2017, median prices for prescription medications increased by an average of nearly nine percent, about four times higher than the overall inflation rate, forcing many seniors living on a fixed income to consider going without their medication.