Feingold Introduces Legislation to Protect American Seniors Against Prescription Drug Price Discrimination Bill Will Deny Tax Breaks to Discriminating Drug Companies February 27, 2003 Washington, D.C. – U.S. Senator Russ Feingold today introduced legislation aimed at protecting American seniors from the unfair practices of drug companies. Feingold's bill will deny tax breaks to drug companies who discriminate against Canadian pharmacies that provide Americans the same discount that they provide to Canadians. This legislation follows announcements by Glaxo Smith Klein that they will stop supplying Canadian pharmacies that provide these benefits to American consumers. "I introduced this legislation today because I am deeply concerned about the recent decisions of certain drug companies to stop supplying Canadian pharmacies who provide Americans the same discount that they provide to any Canadian," Feingold said. "These drug companies are attempting to gouge the wallets of our seniors while receiving enormous tax breaks from our government. This practice is unfair and must stop." A recent report comparing four popular prescription drugs at U.S. pharmacies – Allegra D, Celebrex, Lipitor and Zocor – found that U.S. costs were an average of 48 percent higher than in Canada. Many American seniors are going to Canadian pharmacies where they can get the same drugs, made by the same companies, at a lower price. Some drug companies want to stop selling to these Canadian pharmacies. Feingold's bill aims at protecting American seniors by denying tax breaks to these drug companies. "We must not stand by while drug companies receive billions of dollars in tax breaks and turn around and deprive American seniors of affordable prescription drugs," Feingold said. "It is simply unfair to many American seniors who spend much of their fixed income every year on prescription drugs." Feingold's bill follows an announcement by seniors groups from 12 states, including Wisconsin, of a boycott on nonprescription products produced by certain pharmaceutical companies that have cut off drug sales to Canadian firms that sell the drugs to Americans at a cheaper price.

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