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Statement by AARP Executive Director and CEO Bill Novelli in Response to the President's Proposed New Generic Drug Regulations AARP would like to commend the White House for the positive steps they are taking to make it helpful for the American public to purchase generic drugs. These proposed rules should provide significant relief for millions of citizens, especially older Americans who will now have more affordable alternatives to costly brand name pharmaceuticals. The prices of these brand name drugs are rising at the rate of 20 percent each year. While these measures are a step toward addressing some of the financial challenges faced by the American public, they are still no substitute for a prescription drug benefit in Medicare. |