Even while Sen. Bernie Sanders (D-VT) is campaigning for the Democratic Presidential nomination, he is still busy creating legislation that serves the American people. Last week he and Rep. Elijah Cummings (D-MD) introduced a bill to curb the escalating costs of generic drugs. Get the background story on ABC’s Nightline.
A story provoking outrage. It’s about massive corporations, some accused of being driven by greed, of raking in huge profits while regular Americans suffer. This has to do with the medicines many of us need to survive, and prices that are skyrocketing. Not by 100% or 200%, but sometimes by 3000%, even 6000%. So what’s going on here? ABC’s Gloria Riviera investigates.
Last week, Sanders, along with Rep. Elijah Cummings (D-MD), introduced a new bill aimed at curbing generic drug prices.
The U.S. is currently one of a few developed countries that doesn’t negotiate prices with the pharmaceutical industry, Sanders said. Current federal law prohibits Medicare from negotiating lower prices with drug companies. Although Sanders’s new proposal won’t give the federal government the power to do so, it will require generic drug makers to pay Medicaid a rebate any time prices rise above and beyond inflation. Brand name drug makers already do this.
— ABC News Nightline