The bill would empower the Health & Human Services secretary to negotiate annually for the best prices on at least 50 costly brand-name drugs and up to 250 medications, including insulin. Prices would be capped at 1.2x their cost in certain other countries
The chamber on Thursday passed a drug price bill backed by Speaker Nancy Pelosi by a 230 to 192 vote.That's as far as the legislation is likely to go, since both Senate Majority Leader Mitch McConnell and the Trump administration have said they do not support the effort. But it allows House Democrats to say on the campaign trail next year that they fulfilled one of their main promises from the 2018 election.
The negotiation provisions would lower spending by about $456 billion over a decade, but the bill calls for plowing about $358 billion into providing dental, vision and hearing coverage for Medicare enrollees, according to a Congressional Budget Office report released Tuesday.A more controversial finding is that the bill would lead to eight fewer drugs being introduced over the next decade and about 30 fewer medications over the subsequent decade.
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