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House Democrats planning to add the measure to President Biden’s $2.25 trillion infrastructure package. Lori Reilly, PhRMA’s chief operating officer, said the process Democrats want to set up is more like “extortion” than negotiation. If the drug companies do not agree to a price, the government would tax the revenue for the drug in question, beginning at 65% and rising each quarter until it hits 95%. “It doesn’t feel like a negotiation when the government has a hammer of a 95% tax,” Ms. Reilly said in a conference call with reporters. The billions of dollars Medicare would save come from the pharmaceutical industry, which the drug companies say would force layoffs and sap funds for developing new cures.

United statesUnited kingdomLori reillyWashington timesCongressional budget officeHouse democratPharmaceutical researchCongressional budgetPresident bidenஒன்றுபட்டது மாநிலங்களில்ஒன்றுபட்டது கிஂக்டம்லோரி ரெய்லிவாஷிங்டன் முறைகாங்கிரஸ் பட்ஜெட் அலுவலகம்வீடு ஜனநாயகவாதிமருந்து ஆராய்ச்சி