House passes drug price bill

Share this article:
The House of Representatives passed a bill Friday requiring government negotiation of drug prices for Medicare recipients by a vote of 255-170. The bill, promised as part of Speaker Nancy Pelosi’s “100 hours” agenda, replaced a much more ambitious plan scuttled because the Democrats wanted to avoid a rumble with pharmaceutical lobbyists, The Washington Post reported Friday. But the bill nonetheless would strike the “noninterference provision” that was part of the Medicare prescription drug benefit, which prohibits price controls, and mandates direct negotiations between Health and Human Services and drug companies over pricing. Should the bill pass through the Senate–-a prospect that seems unlikely, given Republican threats of a filibuster–-President Bush has promised to veto it. The bill’s chances in the Senate got a slight lift with the sign-on of Senate Finance Committee chairman Max Baucus, the centrist Montana Democrat, who said he believed the government should be able to negotiate prices for Medicare recipients in “discrete areas where our seniors need our help the most.”
Share this article:
You must be a registered member of MMM to post a comment.

Email Newsletters

More in News

Five things for Pharma Marketers to know: Friday, August 29

Five things for Pharma Marketers to know: Friday, ...

Takeda closes out a good-news, bad-news kind of week, AstraZeneca adds a new clinical trial for its experimental PD-1, and researchers link a funeral to the Ebola outbreak.

Amgen sends PCSK9 to FDA

Amgen sends PCSK9 to FDA

Evolocumab holds the FDA's first filed biologics license application for the class.

Consultants expect M&A tempo to continue

Consultants expect M&A tempo to continue

PwC anticipates that divestitures will fuel late-2014 deals, but notes that the noise around early deals and the financials don't fully match up.