WASHINGTON — Congress and the new Biden administration are taking another swing at lowering prescription drug prices.
This time, though, they might have the power to get something done. Unlike in 2019, when Congress failed to pass any meaningful drug pricing legislation and the Trump administration struggled to advance its own proposals, Democrats now enjoy full control of the federal government. Between the new Biden administration and razor-thin majorities in the Senate and House, the current environment could spell trouble for pharmaceutical companies.
About the Authors
Excellent summary; thank you. It illustrates just how little Congress as a whole does regarding drug pricing relief.
If the average elderly (and not so elderly) consumer really understood just how much power is wielded by both Big Pharma AND pharmacy benefit managers there’d be seniors rioting in the streets.
It’s not capitalism but, rather, legalized extortion protected by lobbying monies donated to Congresspeople. All those initiatives listed here – amounting to nothing, while many seniors have to choose between their medications and other basic necessities.
Thanks for the great summary of myriad of draft bills. I look forward your updates with info on the names of co-sponsors and the status of bills.
It really amazes me that our legislatures do not see or is it that they don’t
want to really see where the problem of drug pricing is. Nothing regarding
drug pricing will ever change until there are strict laws to govern the PBM’s.
This is where the problem lies and will always be until the PBM’s are stopped
from fleecing every American in this country. Why on earth would President
Trump ” pull the plug” as he said on Drug Rebates? Do the PBM’s contribute
that much money to both political parties so that every official in Washington
looks the other way. PBM’s don’t want change in the system . It seems to me that’s exactly what they got. Why would they want change when they’re showing 60 BILLION dollars in profit every quarter !!!!