CBO says bipartisan Rx Drug Pricing Act would save more than $94 billion in the first decade

The US Prescription Drug Pricing Reduction Act introduced by Senators Charles Grassley (Republican, Iowa) and Ron Wyden (Democrat, Oregon) could generate over $94 billion in savings over the next decade if enacted, according to an analysis from the Congressional Budget Office.

The bill has been on the Senate's legislative calendar for months, but it is unclear when it might get a vote. Full story: Healthcare Finance.

The CBO estimates that the legislation would reduce spending on cost-sharing by about $72 billion over the 2020-2030 period among Part D enrollees who are not covered by the Low-Income Subsidy program.