Republicans unveil rival drug-pricing plan before vote on Pelosi bill

Republican lawmakers introduced a drug-pricing proposal Dec. 9 to compete with House Speaker Nancy Pelosi's signature bill expected to get a House vote this week, according to STAT

A collection of bipartisan proposals, the new legislation is titled the "Lower Costs, More Cures Act." Republican aides told STAT it is an effort to resolve partisan arguments over drug-pricing policies. 

The proposal would establish a $3,100 yearly cap on out-of-pocket drug costs for Medicare beneficiaries as well as monthly caps, a plan identical to policies in a bill sponsored by Sens. Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore.

It also includes the CREATES Act, which ensures generic drugmakers can access samples of brand-name drugs to bolster generic competition, bans "pay-for-delay" deals and caps copayments for insulin at $50 per month for Medicare beneficiaries. 

The new proposal would also create a chief pharmaceutical negotiator to represent U.S. patients in international trade negotiations, according to STAT

It would also force drug companies to include a drug's list price in TV ads and make drugmakers responsible for 10 percent of drug costs at every stage of coverage in Medicare Part D plans. It would require drugmakers to pay 14 percent in the final, catastrophic phase for high-cost beneficiaries. 

The proposal would not allow Medicare to directly negotiate prices or use an international  benchmark to cap payments in the U.S., as the Pelosi bill does. 

Read the full article here

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