The Biden administration and Senate Democrats earlier abandoned efforts to cap drug prices based on costs in wealthy nations while advancing legislation for Medicare negotiation. This idea was recently echoed by former President Trump, who ordered HHS to create regulations to enforce price limits linked to international rates if necessary. The current negotiations trace back to a 2019 bill by House Democrats under Nancy Pelosi, which sought price control measures tied to foreign pricing. However, such initiatives faced setbacks due to party differences and internal discussions in 2021.
Senate Democrats and the Biden administration abandoned plans to cap drug prices based on payments in other wealthy nations during negotiations to empower Medicare's negotiation capabilities.
Former President Trump criticized Democrats for their handling of drug pricing, asserting that they prioritized drug companies over public health during talks related to price controls.
The unsuccessful effort to tie drug price caps to an average of foreign prices stemmed from a Democratic bill pushed under Speaker Nancy Pelosi in 2019.
Democratic lawmakers attributed the failure to implement foreign price cap measures to missteps during early 2021 meetings with high-level Senate Finance Committee staff.
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