Yang pitches public manufacturing of generic drugs

Yang pitches public manufacturing of generic drugs
© Greg Nash

Entrepreneur Andrew YangAndrew YangYang's new party will be called 'The Forward Party' Andrew Yang planning to launch third party: report Poll: 73 percent of Democratic voters would consider voting for Biden in the 2024 primary MORE on Tuesday released a plan to lower prescription drug costs, which includes allowing Medicare to negotiate drug prices and creating public manufacturing facilities to make generic drugs. 

The Democratic candidate also said that as president, he would allow for forced licensing of medications if companies can't agree with the government on a reasonable price and use prices paid by other countries as a baseline.

According to his campaign, Yang would also allow for importing prescription medication from other countries "if all else fails."

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“For too long, pharmaceutical companies have been trying to profit from the sick while imposing exorbitant costs on the American people. It needs to stop,” Yang said in a statement on the plan. 

“If the pharmaceutical companies are not willing to compromise, we need to ensure the U.S. government has the ability to force licenses for these drugs to companies who will, to control the outrageous cost of prescription drugs,” he added. 

Other presidential candidates have also called for some of the same actions.

Sen. Elizabeth WarrenElizabeth Warren11 senators urge House to pass .5T package before infrastructure bill Senate Democrats seeking information from SPACs, questioning 'misaligned incentives' UN secretary-general blasts space tourism MORE (D-Mass.) would allow the government to make lower-cost generic drugs and Sen. Bernie SandersBernie SandersOvernight Energy & Environment — Presented by the League of Conservation Voters — EPA finalizing rule cutting HFCs Manchin fires warning shot on plan to expand Medicare Democrats steamroll toward showdown on House floor MORE (I-Vt.) would tie drug prices to lower sums paid in other countries.

South Bend, Ind., Mayor Pete ButtigiegPete ButtigiegDOJ sues to block JetBlue-American Airlines partnership On The Money — Presented by Wells Fargo — Pelosi plows full speed ahead on jam-packed agenda Blumenthal calls on Buttigieg to investigate American Airlines-JetBlue partnership MORE's plan also calls for allowing Medicare to negotiate drug prices. 

The Trump administration has also suggested using international drug prices to set the price of some drugs covered by Medicare. 

The House is expected to vote this week on a Democratic bill that would allow the Health and Human Services secretary to negotiate lower prices on up to 250 drugs annually