Bernie Sanders, in his role as an independent senator for Iowa, plans to introduce legislation allowing part of the Federal Government to negotiate drug prices. He has already criticized congress for the outrageous prices Americans are forced to pay for prescription drugs, as well as the enormous amount of fraud and bribery taking place within the pharmaceutical industry.
Presidential candidate Bernie Sanders said the bill would allow the Department of Health and Human Services to negotiate drug prices with pharmaceutical companies. The negotiations would curb sky-rocketing prescription-drug costs by allowing Medicare to negotiate better deals.
Current laws prohibit the government from negotiating drug prices for Medicare. This means for Medicare Part D plans, the part covering drug benefits for seniors, the prices are set by the drug companies, and they can maximize profits without restraint. Medicare Part B covers the drugs administered in doctor’s offices and hospitals. Those include the prices of many cancer drugs and other types of specialty medications, which also cannot be negotiated.
Senator Bernie Sanders said,
“Between our government’s unwillingness to negotiate prices and its failure to effectively fight fraud, it’s no wonder drug prices are out of control.”
Senator Sanders, per his website, says,
“People should not have to go without the medication they need just because their elected officials aren’t willing to challenge the drug and health care industry lobby.”
Bernie Sanders is also advocating for a number of other changes the pharmaceutical industry is completely opposed to. Their concerns include tougher penalties for pharmaceutical companies committing fraud, competition from other countries by importing cheaper versions of the same drugs, a ban on “pay-for-delay” deals allowing brand-name drug manufacturers to pay competing firms to assist in keeping low-cost generics off the market.
A PhRMA spokesperson responded in an email,
“Short-sighted attempts to arbitrarily cap spending would send a signal to researchers and investors that innovation is no longer valued and would result in fewer treatment options for patients.”
The majority of people may feel differently. Public support for the government negotiating Medicare drug prices seems to be growing. The Kaiser Family Foundation conducted a poll in July, and found that 83% of Americans believe the government should negotiate drug prices for the benefit of Medicare beneficiaries. A separate analysis was released by Public Citizen and Carleton University this summer, and found Medicare Part D would save as much as $16 billion a year, if it paid for brand-name drugs at the same prices Medicaid and the Veterans Health Administration do. (Neither Medicaid nor the VA have restrictions blocking their ability to negotiate discounts.) Doctors and clinicians are also voicing their support for reasonably priced drugs. A group of oncologists published a commentary in August calling for Medicare to be given the right to negotiate better drug prices.
The pharmaceutical companies have been overcharging the American public for drugs for over three decades. It has become a longstanding tradition for drug companies to charge reasonable prices in other countries, and outrageous ones in the U.S. They rationalize it pays for research, but their profits go much further than that. Bernie Sanders is someone who wants to stop the bleeding of money federal money to satisfy corporate greed.
