WASHINGTON — A key Senate committee on Wednesday voted to require drug companies to justify price hikes to the federal government if they exceed 10% in a year or 25% in a three-year span, advancing a proposal that also enjoys bipartisan support in the House.
The measure, spearheaded by Sen. Tammy Baldwin (D-Wis.), was offered as an amendment to a broader health care bill being considered by the Senate’s Health, Education, Labor, and Pensions Committee. Three other senators — two Republicans and one Democrat — co-sponsored the legislation, which the committee voted to include by a 16-7 margin.
Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!
GET STARTEDWhat is it?
STAT+ is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- STAT+ Conversations
- Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
About the Author Reprints
