Prescription Drug Fairness for Seniors Act of 2001

The Prescription Drug Fairness for Seniors Act of 2001 was designed to lower the cost of medications for Medicare beneficiaries by addressing the price gap between the United States and other countries. The bill would have required drug manufacturers to sell outpatient medications to pharmacies at a price no higher than the average price charged in other industrialized nations. By ensuring pharmacies could purchase these drugs at lower international rates, the legislation aimed to pass those savings directly to seniors, allowing them to access necessary prescriptions at significantly reduced out-of-pocket costs.