Senate Democrats reach agreement on prescription drug prices
CNN
Under fire for jettisoning plans to address prescription drug prices in the Democrats' sweeping spending package, Senate Majority Leader Chuck Schumer announced Tuesday that an agreement has been reached to lower drug costs.
The deal would empower Medicare to negotiate prices of certain costly medications administered in doctors' offices or purchased at the pharmacy, according to a document circulated by Schumer's office. Drugs wouldn't be eligible until they were outside their initial exclusivity periods -- nine years for many, 12 years for others.
Medicare would negotiate up to 10 drugs, starting in 2023, with prices taking effect in 2025. The number would rise to up to 20 medications starting in 2028. This is a far more limited proposal than the one Democratic leaders in the House have backed.
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