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Nancy Pelosi's push for drug pricing caps faces solid opposition


Added 10-23-19 12:03:01am EST - “House Speaker Nancy Pelosi's push to impose pricing caps on prescription drugs has run into solid opposition from Republican lawmakers and conservative groups who have branded it a "socialist fantasy."” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Pelosi’s push for drug pricing caps faces solid opposition”. Below is an excerpt from the article.

House Speaker Nancy Pelosi’s push to impose pricing caps on prescription drugs has run into solid opposition from Republican lawmakers and conservative groups who have branded it a “socialist fantasy.”

The legislation, dubbed the Lower Drug Costs Now Act, would put the federal government in charge of negotiations with drug makers to set U.S. prices in line with prices in Australia, Canada, France and the United Kingdom — all countries with nationalized health care systems.

The conservative group FreedomWorks called it an attempt to “import foreign price controls from nations with single-payer healthcare and, ultimately, harm innovation and leadership in the United States on the development and manufacture of prescription drugs.”

The bill’s Democratic backers, including lead sponsor Rep. Frank Pallone of New Jersey, insist it will keep soaring U.S. drug prices in check and end the wide disparity with lower prices abroad.

Republicans on the House committees overseeing the legislation balked that Mrs. Pelosi scrapped months of bipartisan work on drug pricing in favor of the far-left approach.

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