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NJ prescription drug prices crush small businesses

2-minute read


As a small-business owner, I am deeply concerned about the ongoing burden of prescription drug costs. These costs not only strain our financial resources but also hinder our ability to hire new employees. I just added a new member to my team and had to pay a $1,000 prescription drug fee through my insurance provider. This added expense makes me hesitant to hire more employees. In fact, a recent Small Business for America’s Future survey found that 94% of small-business owners believe the current prescription drug pricing market needs to be changed.

That’s why I am urging state lawmakers to prioritize making appointments to the Drug Affordability Council so the group can get to work to address the root causes of rising drug prices and ensure that treatments remain accessible and affordable to all who need them. The council has the potential to hold pharmaceutical companies accountable for unjustifiable price increases, lay the groundwork for long-term solutions, and relieve the financial burden of rising costs on small businesses by providing policy and regulatory recommendations.

The impact of rising prescription drug costs on small businesses is daunting, and swift action is needed to alleviate this burden. It’s time for lawmakers to act decisively in the best interest of New Jersey’s small-business owners.

Katherine Sheldon

The writer is CEO of Prasada in Home in Mount Arlington.

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