Pelosi Releases Proposed Prescription Drug Pricing Plan

Prescription drug prices remain a topic of interest and negotiation at the federal level. Rep. Nancy Pelosi released her plan to address prescription drug prices, which focuses on negotiating prices with pharmaceutical companies, last week. According to the New York Times, “Ms. Pelosi’s plan … would allow the government to negotiate the price of insulin and as many as 250 name-brand drugs each year for Medicare beneficiaries — an idea that many Republicans hate but that President Trump embraced during his 2016 campaign. Drug companies would also have to offer the agreed-on prices to private insurers or face harsh penalties, which could give the package broader appeal with voters.”

HCAN, the national Health Care for America Now campaign, indicated its support for this plan: “The … new bill will lower prices by finally requiring drug corporations to negotiate fair prices for some of the most commonly prescribed medicines. The proposal takes steps to hold Big Pharma companies accountable for following new rules that prohibit them from charging many times more for drugs than people in comparable countries pay for that same drug.”

As outlined in the New York Times article, this new proposal will be part of discussions and negotiations with other proposals such as the bi-partisan Grassley/Widen bill in the Senate, the Doggett bill in the House and proposals from the White House.

Jane McNichol