White House Puts Heft Behind Bipartisan Compromise Drug Bill In Senate
White House adviser Joe Grogan said the administration is working to line up Republican support for the Senate bill, which would cap what Medicare beneficiaries pay out of pocket for medicines and require drugmakers to pay rebates to Medicare if they hike prices above the inflation rate.
The Associated Press:
Drug Cost Legislation Gets A Push From White House
The White House is ramping up its push to get a bill through Congress that curbs prescription drug costs, feeling a new urgency as the impeachment investigation advances amid the 2020 election campaign. The effort has progressed beyond anything seen in years, says President Donald Trump’s top domestic policy adviser. “This is a once-in-a-generation opportunity to confront these issues in a nonideological fashion,” adviser Joe Grogan said in a recent session with reporters. (Alonso-Zaldivar, 11/17)
Reuters:
Trump Says U.S. States Will Be Able To Buy Prescription Drugs Abroad
President Donald Trump said on Friday he would be giving U.S. states the right to buy prescription drugs from other countries, as part of a bid to boost consumer access to cheaper medicines. "I'm going to be giving governors the right very shortly to buy ... their prescription drugs from other countries," Trump said at a White House event accompanied by Health and Human Services (HHS) Secretary Alex Azar, among other officials. (11/15)
Meanwhile —
Stat:
Biotech Venture Capitalists Speak Out Against Pelosi’s Drug Pricing Bill
A group of top biotech venture capitalists are issuing a stark warning to Congress: They won’t be able to pour money into biotech research if Democrats’ signature drug pricing bill becomes law. “If policies such as those included within H.R. 3, the Lower Drug Costs Now Act, are passed, our ability to continue to invest in future biomedical innovation will be severely constrained, thus crushing the hopes of millions of patient waiting for the next breakthroughs,” the letter states. (Florko, 11/18)
