Dems race to reach drug pricing deal © Greg Nash Democrats are furiously negotiating a plan to lower prescription drug prices, making significant progress over the weekend but racing to finalize a deal before a House vote on President Biden's mammoth social spending package as soon as this week. The fate of one of the party’s signature issues hangs in the balance after the White House last week left drug pricing out of the framework of Biden’s reconciliation package. Over the weekend, House leaders had been aiming for a Tuesday vote on both the infrastructure and reconciliation packages, but the votes got pushed back after drug pricing negotiators signaled they were on the cusp of a deal to include the issue in Biden’s Build Back Better plan. Negotiators may have won even more time to clinch a deal when Sen. Joe Manchin (D-W.Va.), a backer of lowering drug prices, told reporters on Monday he still had concerns about the broader $1.75 trillion framework Biden unveiled last week and isn’t fully on board. Of course, it's not clear that Manchin will necessarily be on board with what's being negotiated. Much smaller: The compromise drug pricing proposal under discussion would be significantly scaled-back from Democrats’ earlier sweeping measures. For example, the proposal under discussion would allow Medicare to negotiate lower drug prices, but only for older drugs that are no longer under “exclusivity,” meaning the period when they are protected from competition. Rep. Scott Peters (D-Calif.) had warned that earlier versions of Democrats’ legislation, which would have allowed Medicare to negotiate prices for newer drugs, would harm innovation from drug companies to develop new treatments. Anti-Big Pharma: The pharmaceutical industry, long known as a powerful force in Washington, has been fighting hard against Democrats’ sweeping measures, warning they would hinder investment in research and development, and lawmakers said they were eager not to let the industry win. The White House got significant pushback from Democratic lawmakers after leaving drug pricing out of the framework. Rep. Peter Welch (D-Vt.) said there was a “firestorm of reaction” from Democratic lawmakers when the White House left drug pricing out of its framework last week, with the administration saying the votes simply were not there yet. Read more here. |
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