Obama administration seeks to negotiate Medicare drug prices


President Barack Obama’s new $3.99 trillion budget for fiscal-year 2016 proposes allowing the U.S. secretary for health and human services to negotiate prices for biotechnology treatments and other high-cost drugs in Part D “to ensure access to and affordability of these treatments.” But the plan would require the administration to get a green light from Congress, where Republicans who control the House of Representatives and Senate have openly favored market forces over government intervention as a vehicle for containing healthcare costs.

Read the source article at reuters.com

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