Big Pharma lovin' this!-----Senate Democrats Take One More Step Toward Socialized Medicine

Senate Democrats Take One More Step Toward Socialized Medicine - Sally C. Pipes

It’s been less than a year since Democrats enacted the Inflation Reduction Act (IRA), which gives Medicare the power to set the prices of certain medicines...

But Democrats already want more...

• The SMART Prices Act would take things even further. It would empower Medicare to set prices for 20 drugs in 2026, instead of the current 10 under the IRA. In 2027, that number would jump to 40 — many more than the IRA stipulated.
• The new bill would also subject medicines to price controls five years after approval by the Food and Drug Administration. That’s up to eight years quicker than under the IRA and significantly sooner than when generic or biosimilar competitors can enter the market.

This provision would gut the generics industry...