Chants of “H.R. 3” broke out in the House of Representatives chamber during the 2020 State of the Union Address as Democratic lawmakers urged action on the bill passed late last year that could impact the price of prescription medications paid for by government-funded health programs.
House Speaker Nancy Pelosi’s drug pricing reform bill passed the House of Representatives in a mostly party-line vote and will head to the U.S. Senate, where the chances of moving forward in the Republican-led chamber are slim.
Prescription drug prices dropped 1 percent in 2018 – the first time such a drop has occurred in the United States in 45 years – driven primarily by a greater reliance on generic drugs and much slower increases in branded drugs, according to a government study.
The pharmaceutical industry continues its full-court press opposition to a prescription price reduction plan proposed by House Speaker Nancy Pelosi.
Life sciences organizations are marshaling their forces in opposition to Nancy Pelosi’s drug pricing reform bill.
PhRMA CEO Stephen Ubl said House Speaker Nancy Pelosi’s plan would be “devastating” to the industry.