Rubio wants to end Medicare’s new ability to negotiate drug

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AardvarkGoodSwimmer
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13 Oct 2022, 5:57 pm

https://thehill.com/homenews/senate/367 ... g-law/amp/

‘ . . Republican Sens. James Lankford (Okla.), Mike Lee (Utah), Cynthia Lummis (Wyo.) and Marco Rubio (Fla.) introduced the “Protecting Drug Innovation Act” on Friday [Oct. 7], saying they wanted to pull back government authority over the prices of drugs covered by Medicare.

‘The Inflation Reduction Act was passed and signed into law in August with no Republicans voting for it.

‘The bill allows Medicare to negotiate drug prices for the first time in the program’s history. It also placed a $2,000 out-of-pocket cap on annual drug costs for seniors on Medicare, as well as a $35 monthly cop for insulin. .’
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‘ . . In his own statement, Lee argued that “price controls never work.” . .’

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Mmm? Too much like a college freshman learning about economics for the first time! And negotiating lower prices is not quite the same as a price control.

And then some fine day, we might talk about how Big Pharma is an 800-pound gorilla and is the nature of a cartel. And how patents for mere tweaks on drugs last entirely too long.

* I emphasized Rubio as he’s the biggest name