Representative Jan Schakowsky Introduces Medicare Fair Drug Pricing Act

[eridani]

This month, the Honorable Jan Schakowsky introduced the Medicare Fair Drug Pricing Act (H.R. 4207), which would give the Secretary of Health and Human Services (HHS) tools to bring down the price of prescription drugs in the Medicare program.

In a statement, Representative Schakowsky said, "Over the past few years, many breakthrough drugs have come to market, providing hope to many Americans living with diseases that currently have little or no treatment or cure. Yet, little has been done to ensure that patients can actually afford those life-saving treatments. That is why, I introduced the Medicare Fair Drug Pricing Act, which would ensure that Medicare beneficiaries have access to breakthrough, life-saving drugs. Under my legislation the Secretary of Health and Human Services would negotiate directly with drug manufacturers of sole source drugs and biologics covered under Medicare Part D to ensure that these medicines are affordable and accessible for beneficiaries."

Endorsed by the Medicare Rights Center, the legislation would require the HHS Secretary to negotiate prices for prescription drugs covered by Medicare Part D that are the only prescription drug of their kind and are not produced by more than two manufacturers. The law would give the Secretary and the drug manufacturer 90 days to negotiate the prescription drug price, and the set price would remain in effect until more than two manufacturers enter the market with competing medicines, as long as one of the prescription drugs is a generic.

Read Representative Schakowsky's announcement.
http://schakowsky.house.gov/press-releases/schakowsky-introduces-medicare-fair-drug-pricing-act

[rurallib]

1. this should have 180 Democratic co-sponsors by Tuesday

I can't wait to see the rush to endorse this by Dems.
(some sarcasm may have been used in this post)

[justhanginon]

2. Excellent idea. If some drugs are unavailable to a large portion

of the public due to Pharma companies ability to maximize profit in pricing structures they become virtually worthless to many who may desperately need them. It is ridiculous that Medicare does not have the right to negotiate the prices on all drugs covered under plan D. The only reason for this is drug manufacturers continuing purchase of some congress people to defeat any legislation beneficial to the American public in this area.
The co-sponsors of this bill will tell us a lot about the priorities of our Representatives and should be considered in our voting decisions.