House Speaker Pelosi unveils Democrats' sweeping plan to lower prices on the most expensive drugs [CNBC]
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Source: CNBC
House Speaker Pelosi unveils Democrats' sweeping plan to lower prices on the most expensive drugs House Speaker Nancy Pelsoi She and fellow House Democratic leaders have been working for months on a plan to reduce U.S. drug prices. The main thrust of the plan will allow Medicare to negotiate lower prices on as many as 250 of the most expensive drugs, including insulin, per year and apply those discounts to private health plans across the U.S, according to a legislative summary distributed to lawmakers. The plan will also establish an international pricing index that is supposed to bring drug prices in line with what other nations pay and penalize pharmaceuticals companies that refuse to negotiate with the government or fail to reach any drug pricing agreement. The penalty will start at 65% of the gross sales of the drug in question and increase by 10% each quarter the manufacturer doesn't reach an agreement, according to the summary. Pelosi's proposal also will: Pelosi and other Hous
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