On Wednesday, House Democrats filed legislation to expand the Inflation Reduce Act’s (IRA) prescription price negotiating provisions to allow Medicare to bargain for the cost of a number of medications.
The Lowering Drug Costs for American Families Act was introduced by Democratic Reps. Bobby Scott (Va.), Richard Neal (Mass.), and Frank Pallone, Jr. (N.J.), who are the ranking members of important House committees.
The proposed legislation would allow inflation refunds to be applied to all Americans with private insurance coverage and expand medication price discussions to include them. The lawmakers predicted that the latter clause would save $40 billion over the following ten years.
The law would also boost from 20 to 50 the number of prescription pharmaceuticals that are selected for negotiation each year in addition to these other measures.
The pharmaceutical industry is now challenging the federal government’s existing negotiating power, and the law is unlikely to progress in a House controlled by Republicans, but it is a clear indicator of Democratic goals should they win back the House.
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IRA’s Drug Price Negotiation Faces Legal Hurdles
Prior to the IRA’s passage, the group collaborated with Rep. Nancy Pelosi (D-Calif.) to introduce the Elijah E. Cummings Lower Drug Costs Now Act in 2019. This bill includes features that eventually appeared in the IRA.
The current wave of legal challenges it confronts from drug company trade groups will require the Medicare Drug Price Negotiation Program established by the IRA, upon which the lawmakers intend to build.
There are five lawsuits contesting the federal negotiation process in various jurisdictions as of last week, and one plaintiff has already requested that the program be temporarily suspended.
By the beginning of September, the first 10 drugs selected for negotiation are anticipated to be made public. Drug producers will then have until October 1 to submit agreements to the negotiation process.
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Source: thehill.com