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Incoming Dem chairman: Medicare negotiating drug prices is a priority

Incoming Dem chairman: Medicare negotiating drug prices is a priority
© Greg Nash

Rep. Frank Pallone Jr.Frank Joseph PalloneHouse Democrats urge Amazon to investigate, recall 'defective' products Asbestos ban stalls in Congress amid partisan fight Pharma execs say FDA will not lower standards for coronavirus vaccine MORE (D-N.J.), who is slated to be the next chairman of a House committee overseeing drug prices, said Wednesday that his top priorities on the issue are allowing Medicare to negotiate prices and speeding the approval of cheaper generic drugs.

Pallone, who is set to become chairman of the House Energy and Commerce Committee in January, pointed to President TrumpDonald John TrumpFederal watchdog accuses VOA parent company of wrongdoing under Trump appointee Lawsuit alleges 200K Georgia voters were wrongly purged from registration list Ivanka Trump gives deposition in lawsuit alleging misuse of inauguration funds MORE’s support for those two policies in expressing hope for a bipartisan deal.

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“I've always been an advocate for negotiated prices under Medicare, and as you know, President Trump says that he's for that, so I think that’s an area where we can get agreement with the president,” Pallone told reporters.

Trump has previously expressed support for allowing Medicare to negotiate drug prices, a top Democratic priority, but has since backed off the idea. Democrats are hoping to get him back on board, and they see drug prices as an area of possible bipartisan cooperation.

Pallone also mentioned bipartisan legislation that would crack down on stalling tactics used by drug companies to prevent cheaper generic competition from entering the market. That bill is known as the Creates Act, and has been delayed all year despite support from members of both parties.

“I think you need negotiated prices under Medicare, and I think you need the Creates Act and other initiatives that will aggressively bring generics to market,” Pallone said. “There's an area where the president agrees with me and the Democrats, so why not?”

House Democrats say drug pricing legislation will be one of their top priorities next year in the majority.

It is unclear what can come out of the GOP-controlled Senate, but Democrats are hoping that if Trump supports legislation he can help get it through the Senate.

Passing drug pricing legislation would be an uphill climb, given that pharmaceutical companies have long been a powerful force in Washington.