Sanders, Booker Propose Creating A New Bureau Dedicated To Keeping Drug Prices In Check
Under the bill proposed by Sens. Bernie Sanders (I-Vt.) and Cory Booker (D-N.J.), drugmakers bringing a new product to market would have to submit to this new agency the cost of research and development, the cost of the drug and of comparable medications in other countries and the federal investments that contributed to the drug's discovery and production.
Booker And Sanders Propose A New Federal Agency To Set Drug Prices
Sens. Cory Booker and Bernie Sanders are pushing for the creation of a new federal agency aimed at controlling the rising cost of prescription drugs. The pair, who are both vying for the 2020 Democratic presidential nomination, proposed a bill Friday that would create a Bureau of Prescription Drug Affordability and Access, which would be responsible for determining the list prices of medications. The big stick: If a drug maker didn't comply, the government would void its exclusivity protections and allow other companies to produce generic versions of the medicine. (Luhby, 11/15)
Booker, Sanders Propose New Federal Agency To Control Drug Prices
The 2020 Democratic hopefuls were joined by fellow White House contender Sen. Kamala Harris (D-Calif.) as sponsors of the legislation. One of the main tenants of the proposal is that if a drug company did not comply with the regulations, it would void exclusivity protections, allowing other companies to produce generic copies of a drug. The senators noted the legislation is one of the few bills to directly address a drug's list price, which is the cost before any discounts or rebates and is usually only paid by the uninsured. (Johnson, 11/15)
Booker And Sanders Team Up Again To Lower Drug Prices
“In a country as wealthy as ours, it’s downright shameful that people have to choose between taking their medicine or paying for other basic necessities,” said Booker, D-N.J. “Every day, millions of Americans struggle to afford their lifesaving medication while the manufacturers of these drugs profit hand over fist with limited to no oversight. "Canada has a similar board that determines whether a drug is overpriced by comparing prices with other countries. (Salant, 11/15)