Senate Finance Committee Chairman Chuck GrassleyChuck GrassleyOn The Money — Progressives play hard ball on Biden budget plan Hillicon Valley — Presented by LookingGlass — Congress makes technology policy moves Senators preview bill to stop tech giants from prioritizing their own products MORE (R-Iowa) said this week that he is aiming to introduce bipartisan legislation by mid-June to lower drug prices.
Grassley, who made the announcement Thursday during a speech in Iowa, said he is working with the top Democrat on his committee, Sen. Ron WydenRonald (Ron) Lee WydenDemocrats' reconciliation bill breaks Biden's middle class tax pledge Missouri education department calls journalist 'hacker' for flagging security flaws on state website Democrats weigh changes to drug pricing measure to win over moderates MORE (Ore.), to try to find a path forward on an issue that is a priority for Democrats and President TrumpDonald TrumpMcCabe wins back full FBI pension after being fired under Trump Biden's Supreme Court reform study panel notes 'considerable' risks to court expansion Bennie Thompson not ruling out subpoenaing Trump MORE.
Wyden's office on Friday confirmed that the two senators are working together on a bill.
Grassley’s effort is being closely watched to see how far he will go in taking on drug companies to help lower prices. Grassley is well known for his willingness to support some legislation opposed by the pharmaceutical industry, but he has so far stopped short of endorsing Democrats’ No. 1 priority on the issue: allowing Medicare to negotiate drug prices.
Details are scant on the legislation Grassley and Wyden are working on.
The pair convened three hearings earlier this year to examine drug prices, including a high-profile event in February where drug company CEOs testified.
“I’ve heard from people all over the state of Iowa about high prescription drug prices,” Grassley said in Thursday's speech to the Global Insurance Symposium. “I’ve heard stories of people leaving their prescriptions at the drug store counter or rationing their insulin in order to make ends meet. Both of these are prescriptions for bad health care outcomes.”