Politics Senate parliamentarian Dems have largely accepted drug price controls

Senate parliamentarian Dems have largely accepted drug price controls

-

- Advertisment -


WASHINGTON (AP) — Senate lawmakers shot down Democrats’ plan to curb drug prices but left it largely intact Saturday, Democrats said, as party leaders prepare to move their sweeping fiscal bill. through the room.

Elizabeth McDonough, the chamber’s rules mediator, said rules that force drugmakers to pay rebates for products sold to private insurers if their prices rise above inflation must be eliminated.

But if the prices of drugs bought by Medicare go up too much, the pharmaceutical companies will have to pay those fines.

Other parts of the law, allowing Medicare to negotiate the costs of drugs it buys, capping seniors’ out-of-pocket costs and providing free vaccines, all survived.

“This is a big win for the American people,” Senate Majority Leader Chuck Schumer, D-N.Y., said in a statement. “Despite an unfortunate ruling that the scope of inflation reduction is limited, the overall program remains intact and we are one step closer to finally taking on Big Pharma and lowering Rx drug prices for millions of Americans.”

Advertisement

Repeal of penalties on drugmakers for price gouging on private insurers would reduce incentives for drug companies to limit what they charge. That would raise costs for patients and reduce the $288 billion in savings over 10 years that Democrats estimated the overall drug controls would generate.

Latest news

Amnesty International’s assessments that Ukraine is “harming civilians” are outrageous

It was understood that between 30,000 and 40,000 of Lisichansk's pre-war population of about 100,000 remained, so Ukrainian...

As the water level receded, more human remains were found at Lake Mead

off Video Fox News Flash August 7 Top Stories Here are the...

Richard Seymour pokes fun at Tom Brady during his Hall of Fame speech

closer Video Here are the top headlines from Fox News Flash....

Khaled Mansour, Palestinian militant commander, killed in Israeli strike

Khaled Mansour, an Islamic Jihad militant commander who was killed in an Israeli rocket attack on the southern...
- Advertisement -

‘We need a change maker’: Dems want more from Biden on abortion and climate

Progressives say they want President Biden to use his full executive power on big issuesProgressives worry that Biden's approach...

In the video, a group of teenagers crash a stolen Kia, running down a Minnesota highway

off Video Fox News Flash August 7 Top Stories Here are the...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you