BIO reacts angrily to 'extreme' Pelosi plan
On Thursday, US House of Representatives Speaker Nancy Pelosi unveiled drastic proposals that would allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.
At present, the Department of Health and Human Services (HHS) cannot negotiate medicine prices on behalf of Medicare, but the proposals, which are being called the 'Pelosi plan', would change this.
Similar to other proposals on lowering drug costs, the plan would see prices of drugs in other developed countries used as a reference point to ensure that negotiations result in a figure that’s no more than 1.2 times the average in six other places.
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