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Drugmakers prepare for the unusual: A defeat in Washington
Democrats' next big bill could include drug price negotiations and other industry curbs. Pharma may not be able to fight it off this time.
By SUSANNAH LUTHI and SARAH OWERMOHLE
03/23/2021 04:30 AM EDT
The pharmaceutical industry is preparing to take a hit in Democrats next major legislative package and the long-untouchable powerhouse is racing to contain the damage.
Democratic lawmakers are weighing whether to include drug pricing measures that could extract tens of billions of dollars from the industry, or potentially more, to help pay for a massive infrastructure bill they could try to pass along party lines this summer.
A renewed debate over whether to allow the government to negotiate drug prices, which is strongly opposed by pharma and Republican lawmakers, could become a watershed moment for an industry thats unaccustomed to losing and survived the Trump era largely unscathed, even as the previous president found rare common ground with Democrats in bashing high drug prices. But those with knowledge of initial discussions told POLITICO that Democratic lawmakers appear intent on using their razor-thin congressional majorities to finally push through a drug pricing overhaul for at least one simple reason: Its one of the few issues under consideration that would save money in a sprawling package expected to cost trillions.
The huge difference between drug prices and literally everything else out there: Everything else costs money, and this one saves money, said Alex Lawson, executive director of Social Security Works, whose group is in close contact with congressional staffers on drug pricing.
The long-running drug pricing debate, propelled by bipartisan voter anger over high medicine costs, had been stalled by the pandemic before it sprang back to life last week with two major developments: House Democrats began exploring whether to include negotiations in the forthcoming infrastructure package, and one of the pharmaceutical industrys most vocal critics, Sen. Bernie Sanders (I-Vt.), abruptly scheduled the first hearing on drug prices in the new Congress for Tuesday.
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https://www.politico.com/news/2021/03/23/drugmakers-brace-for-washington-loss-477517
dalton99a
(81,683 posts)Irish_Dem
(47,761 posts)I myself cannot afford to take a full dose of two medications.
The price of one medication is $700 a month!
Hortensis
(58,785 posts)Well, yes. President Biden promised to bring down drug prices, and so did most Democrats running for congress.
Btw, this is talking about the Elijah Cummings Lower Drug Costs Now bill, as H.R. 3 was named in his honor last year. House Dems passed it and, of course, McConnell's majority stopped it in the senate.