Nov 21, 2018

Bernie Sanders' drug prices bill echoes Trump plan

Photo: Stephanie Keith/Getty Images

Sen. Bernie Sanders and Rep. Ro Khanna announced yesterday that they're planning to introduce a bill aiming to align what the U.S. pays for prescription drugs with what other major countries pay — a very similar approach to the one the Trump administration recently laid out.

The big picture: The bill would affect what people who are privately insured or uninsured pay for their drugs, while the administration's version is limited to Medicare Part B. Sanders has long supported a drug pricing system — in fact, a whole health care system — much more akin to Europe’s.

Why it matters: "In truth the international price index would be difficult if not impossible to sustain. But pharmaceutical companies are going to start to get the message that these disparities are not sustainable long term," Avalere's Dan Mendelson says.

The bottom line: Trump and Sanders have two very different but very loyal bases — and yet they’re aligned on a plan that couldn’t make it across the finish line just a few years ago, when the Obama administration proposed something similar.

Go deeper: Axios' Deep Dive on the maze of prescription drug pricing

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Wisconsin Supreme Court blocks governor from delaying state's primary

Tony Evers. Photo: Nuccio DiNuzzo/Getty Images

Wisconsin's Supreme Court on Monday blocked an executive order by Gov. Tony Evers (D) that attempted to delay in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.

Driving the news: Judges ruled 4-2 along ideological lines that Evers does not have the power as governor to unilaterally postpone the election, despite the fact that the state has a stay-at-home order in place due to the coronavirus pandemic.

Go deeperArrowUpdated 54 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 1,331,032 — Total deaths: 73,917 — Total recoveries: 275,851Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 356,942 — Total deaths: 10,524 — Total recoveries: 18,999Map.
  3. 2020 update: Wisconsin governor orders in-person primary voting delayed until June.
  4. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  5. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  6. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Stocks jump 7% despite bleak coronavirus projections

People passing by the New York Stock Exchange amid the coronavirus pandemic. Photo: John Nacion/NurPhoto via Getty Images

The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.

Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.