A bill in Congress would allow Medicare to use its bulk-purchasing power to negotiate lower drug prices. Big Pharma is not pleased
The three conservative Democratic lawmakers threatening to kill their party’s drug pricing legislation have raked in roughly $1.6m of campaign cash from donors in the pharmaceutical and health products industries. One of the lawmakers is the House’s single largest recipient of pharmaceutical industry campaign cash this election cycle, and another lawmaker’s immediate past chief of staff is now lobbying for drugmakers.
The threat from Democratic Representatives Kurt Schrader (Oregon), Scott Peters (California) and Kathleen Rice (New York) comes just as the pharmaceutical industry’s top lobbying group announced a seven-figure ad campaign to vilify the Democratic legislation, which aims to lower the cost of medicines for Americans now facing the world’s highest prescription drug prices.
