In reversal, employers, union groups push for Congress to allow Medicare to negotiate drug prices
The largest US unions, employer groups, and more than two dozen other group purchasers have long supported the push for market forces like generic drug and biosimilar competition to bring down the prices of drugs across the board. But now, those same groups are calling on top lawmakers on both sides of the aisle to do more and allow Medicare to negotiate drug prices.
“Negotiated prices should consider key components including: research and development costs, including prior federal support; data on net prices, sales across all markets, and projected revenue; costs of production and distribution; data on comparative effectiveness,” the groups said in a letter Tuesday to Sens. Chuck Schumer (D-NY), Mitch McConnell (R-KY), and Reps. Nancy Pelosi (D-CA) and Kevin McCarthy (R-CA).
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