Drug industry on verge of rare defeat

  • Drug industry on verge of rare defeat

    Posted by on August 6, 2022 at 6:55 AM

    The powerful pharmaceutical industry is on the verge of a rare defeat in Congress, as Democrats say they have the votes to pass legislation targeting high drug costs.

    After securing the support of Sen. Kyrsten Sinema (D-Ariz.) late Thursday, Senate Democrats appear poised to pass sweeping legislation that, among a host of climate and tax measures, would allow Medicare to negotiate the costs of some prescription drugs for the first time ever. 

    Democrats have sought for decades to allow Medicare to directly negotiate with drug companies as a way to bring down costs, starting with President Clinton's ambitious health reform plan in 1993.

    While relatively modest, the negotiation provision still

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