Is Prescription Drug Price Negotiation a Lasting Trend?

One proposed solution to high prescription drug prices is negotiating directly with manufacturers. Legislative changes allowing Medicare to carry out such negotiations are gaining momentum at a federal level. Pharmaceutical companies strongly oppose negotiation, citing an industry-wide impact to innovation. Still, price negotiation continues to be a talking point throughout the United States.

“Polling shows that criticisms made by industry that drug price negotiation could reduce the availability of drugs and research and development on new drugs could erode support. But those criticisms have been made for years and have not sunk in. The staying power of the idea and the number of people who would benefit continues to drive many Democrats to try to get drug price negotiation passed. That’s also why PhRMA will oppose these proposals with everything at its disposal.” Read more here.

(Source: Drew Altman, Kaiser Family Foundation, 6/25/21)