“We have a broken system in Washington that prohibits the federal government from negotiating lower prescription drug prices for older Wisconsinites. Our commonsense reform will fix this and help lower out-of-pocket costs for seniors,” said Senator Baldwin. “I have long championed efforts to allow the government to negotiate directly with pharmaceutical corporations to get better prices on lifesaving medicines instead of increasing drug company profits. This legislation is a critical proposal that would help safeguard the Medicare program and keep our promises to seniors and taxpayers.”
The legislation would allow the Secretary of Health and Human Services to directly negotiate with drug companies for price discounts for the Medicare Prescription Drug Program, eliminating the “non-interference” clause that expressly bans Medicare from negotiating for the best possible prices. By harnessing the bargaining power of nearly 41 million seniors, Medicare could negotiate bigger discounts than pharmaceutical companies.
An online version of this release is available here.