Correction, Please!
Pols Eye Risky Prescription: Price Controls for Drugs
Item: “Congressional liberals,” reported the Associated Press for January 10, 2019, have offered legislation to lower prescription drug prices. One major effort, noted the wire service, was being pushed by “Sen. Bernie Sanders, I-Vt., Rep. Elijah Cummings, D-Md., and others. Cummings leads the House Oversight and Government Reform Committee, which is expected to take a major role on drug pricing.”
Their “newest idea would essentially apply to any U.S. patent-protected brand-name drug, whether or not government programs are bearing the cost.”
Drugs, the AP continued, that were “found to be ‘excessively priced’ by the government could face generic competition. A medication’s cost would be deemed ‘excessive’ if its price in the U.S. was higher than the median, or midpoint, price in Canada, the United Kingdom, Germany, France and Japan. If the manufacturer was unwilling to cut its U.S. price, then the government could allow generic companies to make a more affordable version of the medication.”
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