Big Pharma

Nancy Pelosi's drug price plan would take on Big Pharma

illustration of a bill rolling onto the capitol building
Illustration: Aïda Amer/Axios

A draft of House Speaker Nancy Pelosi's drug pricing plan obtained by Bloomberg Law confirms that she's working on an aggressive proposal that would give the government vast new authority.

Between the lines: The proposal would give Medicare the authority to negotiate the prices of 250 drugs, limit how high these prices could be based on how much other countries pay, and establish harsh penalties for drugmakers who refuse to comply.

Why pharma doesn't invest in birth control

There hasn't been much innovation in women's birth control since the pill came to market nearly 60 years ago — because drug companies don't stand to make much from it, Bloomberg reports.

Where it stands: Only 2% of drug companies' annual revenue from contraceptives goes back into research and development, according to the Gates Foundation.