Response to Senate Finance Committee request for information on policies for lowering drug prices

August 18, 2026 - 21:14

Two leading health policy experts, Richard Frank and Rachel Sachs, have submitted formal comments to the Senate Finance Committee, offering a detailed roadmap for lowering prescription drug prices. Their recommendations arrive as the committee gathers input on a broad range of policy options, from tweaking existing programs to more structural changes in how drugs are priced and paid for.

Frank and Sachs, both respected voices in health economics and law, focused their remarks on practical, evidence-based approaches. They did not push a single silver bullet. Instead, they laid out a set of complementary ideas. One key area they highlighted is the need to improve transparency and accountability in the rebate system, where middlemen often negotiate discounts that do not always reach patients at the pharmacy counter. They also argued for stronger tools to address high launch prices for new drugs, particularly those with little competition.

Another major theme in their comments was the importance of aligning incentives for innovation with affordability. The pair suggested that Medicare should have more authority to negotiate prices not just for existing drugs, but also for certain high-cost biologics and gene therapies. They also backed proposals to cap out-of-pocket spending for seniors, while cautioning that such caps must be paired with measures to prevent premium spikes elsewhere.

The committee is expected to use these comments, along with input from other experts, to shape potential legislation in the coming months. Frank and Sachs stressed that any successful approach will need to balance short-term savings for patients with long-term stability for the drug market. Their full submission is now part of the public record, giving lawmakers a concrete starting point for what could become a contentious but necessary debate.