The Drug-making titans are up in arms about the proposals to reduce their pricing power, ultimately cutting into their sales by the billions. There has been an increased concern of the ever-rising drug prices, and action against it has started.
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Drugmakers, Worried About Losing Pricing Power, Are Lobbying Hard
The Wall Street Journal
“Industry executives and lobbyists are urging friendly lawmakers to pass legislation blocking the plans. They are also pushing administration officials to pursue measures that would pressure industry middlemen such as pharmacy-benefit managers to provide some relief on patients’ costs without directly curbing drugmakers’ pricing power.”
“The Trump administration last October proposed basing how much Medicare pays for cancer, eye and certain other drugs on the prices charged in other countries, including in Europe, where drugs are less expensive.”
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