President Biden on Monday nudged members of his party in Congress push
through his signature Build Back Better plan, which includes provisions
that would give Medicare the power to bargain on the price of a handful
of the most expensive drugs; penalize drugmakers who raise prices faster
than inflation for people; and cap out-of-pocket costs for insulin at
$35 per month. Democrats’ ability to meaningfully impact drug prices,
however, depends heavily on Congress passing the party’s $1.7 trillion
social spending bill in the coming weeks. Alice Miranda Ollstein
reports.
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