Sen. Bernie Sanders (I-Vt.) was joined by Reps. Elijah Cummings (D-Md.), Ro Khanna (D-Calif.) and other Democrat lawmakers to announce new legislation aimed at curbing high drug prices in the U.S.
The proposed legislation aims to lower U.S. drug prices by going toe-to-toe with prices paid in other countries for the same medication. It includes the Prescription Drug Price Act, which would require HHS to ensure that drug companies match, at a minimum, the median prices of five major countries: Canada, France, Germany, Japan and the UK. Under the bill, the federal government would approve cheaper generic versions of drugs for which companies fail to adequately lower the price, ignoring any patents or market exclusivities.
“There is absolutely no reason for the big pharmaceutical companies to make Americans pay higher prescription drug prices than they charge our friends in Canada, Germany and the UK,” said Rep. Khanna. “This bill will bring down drug prices by taking on monopolies and boosting prescription drug competition.”