I am just reporting this for Big Pharma. I'm not glad that it affects those whocan't afford healthcare but at the same time what does Medicare cover these days when seniors can't afford their meds. It's a mess but expect the BioPharma Indexes rising this week.
Senators Reject Bid to Cut Drug Prices for Low-Income Seniors
WASHINGTON – An amendment to health-care legislation that would have cut drug prices for low-income seniors, imposing billions of dollars in new costs on the pharmaceutical industry, failed in a vote by the Senate Finance Committee on Thursday.
The measure would have allowed Medicare to purchase drugs for low-income seniors at the same price that Medicaid pays for the drugs, which the nonpartisan Congressional Budget Office estimated would have resulted in a loss of $106 billion over 10 years to drug makers.
