Kerry Health Plan Would Force Drugmakers to Accept Lower Prices

by Jon Henshaw

Bloomberg reports:

Democratic presidential candidate John Kerry’s plan to make health care a right and “not a privilege'’ would give the U.S. government the leverage to force drug companies to cut some prices in half.

President George W. Bush, 58, opposes direct negotiation of prices with the $466 billion pharmaceutical industry. Most of the federal health-care system is already prohibited from such negotiations, in contrast to Canada and Europe, where governments have broad authority to influence prices.

Kerry, 60, wants a negotiation policy that would mirror the Veterans Affairs Department, which gets discounts of as much as 65 percent off average wholesale prices of drugs by Bristol-Myers Squibb Co., GlaxoSmithKline Plc and AstraZeneca Plc

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This entry was posted on Monday, August 2nd, 2004 at 3:39 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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