BGOV Closer Look: H.R. 3, Drug Price Negotiation (1)

The Health and Human Services Department could directly negotiate the prices of the most expensive drugs under versions of H.R. 3 approved by three House committees.

The department would be required to negotiate prices of drugs and biological products that lack competition from generic drugs or biosimilars, as well as insulin.

The measure would cap the prices of the drugs at 1.2 times the average price of Australia, Canada, France, Germany, Japan, and the U.K. U.S. drug prices were nearly four times as high as average prices in 11 other countries in 2017 and 2018, according to a report released ...