Nov 15, 2019

2020 Democrats' new drug pricing bill

Caitlin Owens, author of Vitals

Sens. Bernie Sanders and Cory Booker. Photo: Tom Williams/CQ Roll Call

Sens. Cory Booker, Bernie Sanders and Kamala Harris — who are all running for president in 2020 — are announcing legislation Friday that would create an independent agency to determine list prices of prescription drugs.

Why it matters: This is further mainstreaming of Democrats' leftward shift on drug prices.

  • It has become standard for Democratic presidential candidates to support the idea of taking drug companies' patents if their prices are too high. Most of the candidates also support some form of price regulation.
  • While Booker isn't a 2020 frontrunner, he's emblematic of the party's shift: In 2017, he was heavily criticized for voting against a bill allowing the importation of drugs from Canada.

What it does: If a drug company doesn't comply with the determined price, the HHS secretary could void the company's exclusivity period and allow other companies to produce the drug.

  • Ironically, that bill was sponsored by Sanders and Sen. Amy Klobuchar, who is also running for president.

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Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 6 hours ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

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Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.