House Bill Would Authorize Medicare Drug Price Negotiations

Law360, New York (March 12, 2013, 3:58 PM EDT) -- House Democrats introduced a bill Tuesday would allow Medicare to negotiate drug prices directly with manufacturers, potentially saving billions of dollars through reforms staunchly opposed by the pharmaceutical industry.

Rep. Peter Welch, D-Vt., said the Medicare Prescription Drug Price Negotiation Act would save nearly $160 billion over the next decade by allowing the U.S. Health and Human Services Department to take control of talks now handled by private companies that provide drug coverage under Medicare Part D.

“At a time when we’re working to get the...
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