This is terribly wrong.

This is why I am working to pass two bills which would address what I call "price gouging" by the pharmaceutical industry. Along with my colleague Senator Edward Kennedy, I have introduced the "Prescription Drug Fairness for Seniors Act of 1999" (S. 731) which would assure Medicare beneficiaries of the same reduced drug prices that the drug manufacturers currently give their most favored customers such as the federal government and large HMOs. Estimates are that this more favored price would cut drug costs by as much as 40%. A senior citizen spending $150 a month on prescription drugs could save over $700 annually under the legislation. Congressman Tom Allen has introduced an identical bill in the House of Representatives (H.R.664).

The second bill that I am sponsoring along with Senator Bryon Dorgan of North Dakota and others is the "International Prescription Drug Parity Act of 1999" which enables pharmacists and distributors to import FDA approved drugs that have been sold by drug manufacturers to foreign customers in places such as Mexico and Canada at greatly reduced prices-a proposal that would benefit all Americans who consume prescription drugs.

Later this year, Congress is expected to debate a Medicare reform package. Rather than waiting for a complex bipartisan agreement to be reached on a comprehensive Medicare overhaul, my legislation, the Prescription Drug Fairness for Seniors Act, would cut prescription drug costs almost in half with no cost to taxpayers, no bureaucracy, and no Medicare premium increases. Additionally, if enacted today, the International Prescription Drug Parity Act of 1999 would reduce prices on prescription drugs for all Americans. Together, these two bills would make some of the most significant improvements in decades in the lives of seniors and the health of our communities.