‘Jacking Up’ Drug Prices Has To End, Biden Says; Calls On Congress To Act
Citing Americans who skip or conserve medications because of costs, President Joe Biden urged lawmakers to include a series of measures in the $3.5 trillion budget plan under negotiation on the Hill that he says could help bring down "outrageously expensive" prescription drugs.
The New York Times:
Biden Presses Congress To Act On Prescription Drug Prices
President Biden implored Congress on Thursday to include strict controls on prescription drug prices in the mammoth social policy bill that Democrats plan to draft this fall, hitting on an issue that his predecessor campaigned on but failed to achieve. Mr. Biden said he wanted at least three measures included in the $3.5 trillion social policy bill that Democrats hope to pass using budget rules that would protect it from a Republican filibuster. He wants Medicare to be granted the power to negotiate lower drug prices, pharmaceutical companies to face penalties if they raise prices faster than inflation, and a new cap on how much Medicare recipients have to spend on medications. (Weisman, 8/12)
Fox Business:
Biden Pushes Congress To Allow Medicare To Negotiate Drug Prices
President Biden laid out his vision Thursday for reducing the high cost of prescription drugs, and pushed Congress to pass legislation that would allow Medicare to negotiate drug prices for millions of Americans. Medicare, at this point, is prohibited by law from negotiating for the best deal in prescription drugs – something the White House says "needs to change." The president said Medicare should be able to negotiate the price for "subset of expensive drugs that don’t face any competition in the market," and that Medicare negotiators would be provided a framework for what constitutes a "fair price" for each drug. The White House added that there should be "powerful incentives" to make sure drug companies agree to a reasonable price. (Singman, 8/12)
Reuters:
Biden Urges U.S. Congress To Take Steps To Lower Prescription Drug Costs
Biden on Thursday lauded drugmakers for their life-saving work developing the COVID-19 vaccines. "But we can make a distinction between developing these breakthroughs and jacking up prices on a range of medications for a range of everyday diseases and conditions," he said in remarks at the White House. Biden said U.S. prescription drug costs were higher than any other nation in the world by two to three times. (Mason and Heavey, 8/12)
The Washington Post:
Biden Urges Action To Lower Drug Prices
Biden’s remarks from the White House were less a set of new policy ideas than a reminder that he is eager to make headway on an issue of keen concern to voters — one he describes as critical to helping Americans recover economically from the pandemic. “Alzheimer’s, diabetes, cancer — they don’t care if you’re Democrat or Republican,” Biden said in the East Room. “This is about whether or not you and your loved ones can afford prescription drugs.” (Wootson Jr. and Goldstein, 8/12)
The Hill:
Biden Calls On Congress To Act On 'Outrageously' High Drug Prices
He also appeared to back a feature of House Democrats' legislation that would impose a steep tax of up to 95 percent if drug companies refused to come to the table and negotiate. Senate Finance Committee Chairman Ron Wyden (D-Ore.) is working on his own drug pricing legislation, which is expected to be somewhat less far-reaching than the House bill, in a bid to keep moderate Senate Democrats on board, given that Democrats cannot lose a single vote in the Senate. There had been some doubts as to Biden's commitment to drug pricing earlier this year when he left it out of his American Families Plan, but the speech on Thursday provided a new jolt of energy to the issue. (Sullivan, 8/12)
Also —
KHN:
KHN’s ‘What The Health?’: The Senate Acts
The Senate has set the stage for a busy fall that will include debate on a broad array of health issues, such as prescription drug prices, Medicare expansion and further expansion of the Affordable Care Act. Before leaving for a delayed August break, the chamber passed a bipartisan infrastructure bill and budget resolution with an outline of a $3.5 trillion measure to be crafted when lawmakers return. Whether any of those health issues can make it across the legislative finish line remains to be seen, and the path to success is a narrow one. Meanwhile, covid’s delta variant is spreading rapidly around the U.S., particularly in states with large swaths of unvaccinated people. (8/12)
