Grassley Opposes ‘International Pricing Index’ for Drug Prices
Sen. Chuck Grassley (R-IA) says he opposes President Donald Trump’s plan to lower prices that Medicare pays for certain drugs by tying them to lower prices paid in other countries, a plan known as the International Pricing Index. “I don’t think this administration’s approach on international pricing is going to be to the benefit of the adoption of and research for modern drugs,” Grassley said.
The Hill reports there has been speculation that the administration would not finalize its proposal, but instead would use it as an incentive for industry to come forward with other proposals. The story says Grassley’s opposition will make it harder for the administration to move forward, as will the strong opposition of the pharmaceutical industry.
Grassley and Sen. Ron Wyden (D-OR) are developing a proposal to lower drug prices that Grassley said is about 85% done. “There’s a couple of issues that are more difficult” and still need to be resolved, he said.