Drugs

Drug Pricing Bill Advances in Senate

David McFarland

— 1 min read
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The Senate Finance Committee has voted 19-9 to advance the Prescription Drug Pricing Reduction Act (see earlier story). The Congressional Budget Office scored the bill and said it would save taxpayers, patients and the government $130 billion. If signed into law, committee leaders said the measure would modernize and improve the Medicare Part D program by:

  • Simplifying its design;
  • Protecting beneficiaries with high costs and providing peace of mind through an on out-of-pocket spending cap;
  • Improving incentives to increase negotiation between prescription drug plans and manufacturers;
  • Protecting the program from rampant manufacturer drug price increases; and
  • Benefiting patients and taxpayers through lower government spending, premiums, and out-of-pocket costs.

Text of the chairman’s mark can be found here, and modifications to the chairman’s mark can be found here. The bill now moves to the Senate floor for a full vote.

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