EXPLAINER: Lower prescription prices to take time in new law - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
After decades of failed attempts, Democrats this month passed legislation that aims to rein in the soaring costs of drugs for some in the United States
Big Pharma spent more than any other industry to lobby Congress and federal agencies this year, a Reuters analysis shows, but still suffered a major defeat after failing to stop a bill that allows the government to negotiate prices on select drugs.
Despite the pharmaceutical industry’s spending at least $US142 millionon lobbying efforts, the $US430 billion Inflation Reduction Act to change climate, health and tax policies will become law.