Democrats circulate prescription drug framework
Democrats' latest version of a prescription drug pricing deal limits Medicare negotiations to only 20 drugs by 2028 and gives some new drugs a longer period of time after they first come to market during which they're exempt from negotiations, according to a draft of the plan obtained by Axios.
Why it matters: It's still a deal on Medicare negotiations, a huge Democratic priority. But it's a much more moderate version than what most of the party had been pushing for.
What we're hearing: The bill text for Rx prices is being drafted off this paper, two sources familiar with the talks tell Axios.
Details: The plan allows Medicare to negotiate the prices of drugs covered by Parts B and D without competition outside of an initial exclusivity period.
- That time period is nine years for small molecule drugs and 12 for biologics.
- Medicare will negotiate the prices of 10 years in 2025, rising to 20 in 2028.