Industry gets the edge: Medicare drug price negotiations will only cost biopharma 10 drugs over the next 30 years
The House on Friday morning passed a bill that will allow Medicare to negotiate prescription drug prices for a limited number of single source drugs, but it’s a deal that will only make a minor dent in the pocketbook of the biopharma industry.
The negotiations and other pricing provisions, like insulin and senior out-of-pocket caps, are part of a sprawling $1.8 trillion spending package that the Democrats and Biden have been pushing for all summer. The bill, which relies on the pharma-related savings to help pay for it, now moves to the Senate.
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