Photo: George Frey/Getty Images

PhRMA, the drug industry's leading trade group, is considering a proposal that would commit member companies to limiting increases in the prices of drugs purchased by Medicare, BioCentury reported this weekend.

Why it matters: Rising brand-name drug costs are due largely to price inflation, a January Health Affairs study found, while generic and specialty drug price increases are driven more by new products entering the market.

  • The proposal is aimed at persuading the administration to drop its Part B plan, which includes tying Medicare drug prices to those in other countries. The PhRMA idea is to limit drug price increases from exceeding inflation.
  • The organization hasn't decided whether the proposal would be limited to Part B drugs, or if it would also include Part D, pharma executives involved in the discussion told BioCentury.

What we're watching: Whether Health and Human Services Secretary Alex Azar thinks this is a reasonable policy trade if it's pitched to him.

Go deeper: The drug pricing maze

Go deeper

23 million Americans face eviction

Natasha Blunt of New Orleans, who is at risk of eviction. Photo: Dorthy Ray/AP

The coronavirus pandemic threatens America with a new wave of homelessness due to a cratering economy, expiring unemployment stimulus payments and vanishing renter protections.

What they're saying: "I've never seen this many people poised to lose their housing in such a short period of time," said Bill Faith of the Coalition on Homelessness and Housing in Ohio to AP.

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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 18,624,056 — Total deaths: 702,479 — Total recoveries — 11,181,518Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 4,802,275 — Total deaths: 157,551 — Total recoveries: 1,528,979 — Total tests: 58,239,438Map.
  3. 2020: Joe Biden will no longer travel to Milwaukee for Democratic convention.
  4. Public health: Florida surpasses 500,000 confirmed casesFauci calls U.S. coronavirus testing delays "totally unacceptable"
  5. Business: America's next housing crisis.
  6. Education: Chicago Public Schools to begin school year fully remote.
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Beirut explosion: Death toll rises to 135, officials under house arrest

Photo: Anwar Amro/AFP via Getty Images

The death toll from Tuesday's explosion in Beirut, Lebanon has now surpassed 130, including at least one U.S. citizen, amid a search for answers as to why a huge store of ammonium nitrate was left unsecured near the city's port for nearly seven years.

What we know: The government says around 5,000 people are injured. Defense Secretary Mark Esper said current indications are that the massive explosion was accidental, despite President Trump's puzzling claim on Tuesday evening that it appeared to be a bomb attack.