lpetrich
Contributor
Senate Democrats reach agreement on prescription drug prices - CNNPolitics
It's not as much negotiating power as one might want, but it seems to satisfy one of the main objectors to the reconciliation bill. Let's see if she is on board with the rest of it.The deal would empower Medicare to negotiate prices of certain costly medications administered in doctors' offices or purchased at the pharmacy, according to a document circulated by Schumer's office. Drugs wouldn't be eligible until they were outside their initial exclusivity periods -- nine years for many, 12 years for others.
Medicare would negotiate up to 10 drugs, starting in 2023, with prices taking effect in 2025. The number would rise to up to 20 medications starting in 2028. This is a far more limited proposal than the one Democratic leaders in the House have backed.
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Moderate Democratic Sen. Kyrsten Sinema of Arizona, who helped tank the party's original plan to allow Medicare to negotiate the prices of certain drugs, affirmed her support for the new deal.
"The senator welcomes a new agreement on a historic, transformative Medicare drug negotiation plan that will reduce out-of-pocket costs for seniors -- ensuring drug prices cannot rise faster than inflation -- save taxpayer dollars, and protect innovation to ensure Arizonans and Americans continue to have access to life-saving medications, and new cures and therapeutics," Sinema's office said in a statement.
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House Speaker Nancy Pelosi, who has pushed to allow Medicare to negotiate, said she was "pleased" with the compromise.