Congressional Quarterly recently reported that “the pharmaceutical industry is spending record sums in Washington, amid rising congressional and regulatory interest in high drug prices,” noting that its spending in the first quarter of 2016 outpaced everything since 2010, the height of lobbying over Obamacare.
The pharmaceutical industry also is fighting back against a set of cost-cutting proposals released this month by the Campaign for Sustainable Rx Pricing, a coalition that includes the lobbying arms of the hospital and health insurance industries, physician societies, the seniors’ advocacy group AARP and large companies such as Walmart.
The rationale for the proposed regulation is that the current system not only can overpay for these drugs, but can encourage physicians to use medicines that are the most profitable to their practices instead of most appropriate for patients. The independent Medicare Payment Advisory Commission, which advises Congress on policy, has cautioned about these incentives and urged lawmakers to update the way these drug prices are set.
Nancy Pelosi’s #1 corporate financial contributor: Express Scripts, a pharmaceutical home-delivery company.
Source – HuffPost: House Democrats Push Back On Obama Plan To Cut Drug Prices