Republican lawmakers introduced a drug-pricing proposal Dec. 9 to compete with House Speaker Nancy Pelosi's signature bill expected to get a House vote this week, according to STAT.
A collection of bipartisan proposals, the new legislation is titled the "Lower Costs, More Cures Act." Republican aides told STAT it is an effort to resolve partisan arguments over drug-pricing policies.
The proposal would establish a $3,100 yearly cap on out-of-pocket drug costs for Medicare beneficiaries as well as monthly caps, a plan identical to policies in a bill sponsored by Sens. Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore.
It also includes the CREATES Act, which ensures generic drugmakers can access samples of brand-name drugs to bolster generic competition, bans "pay-for-delay" deals and caps copayments for insulin at $50 per month for Medicare beneficiaries.
The new proposal would also create a chief pharmaceutical negotiator to represent U.S. patients in international trade negotiations, according to STAT.
It would also force drug companies to include a drug's list price in TV ads and make drugmakers responsible for 10 percent of drug costs at every stage of coverage in Medicare Part D plans. It would require drugmakers to pay 14 percent in the final, catastrophic phase for high-cost beneficiaries.
The proposal would not allow Medicare to directly negotiate prices or use an international benchmark to cap payments in the U.S., as the Pelosi bill does.
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