AP Photo/Pablo Martinez Monsivais
- The Trump administration has proposed getting rid of discounts called rebates in certain government programs in an effort to lower drug prices.
- On Tuesday, Sen. Chuck Grassley asked executives from seven top pharma companies if they would commit to lowering drug prices, should the rebate proposal go through.
- The executives largely said they were supportive, but added conditions, including that banning rebates should be extended to private health insurance plans.
The Trump administration recently proposed getting rid of a key part of the US drug pricing system that critics say helps drive up drug prices.
The proposal has drug discounts, often called "rebates," in its crosshairs. Rebates are negotiated by intermediaries in the healthcare system to get better prices on medications. But patients also don't always get those lower rates when paying for a medication at the pharmacy.
See the rest of the story at Business Insider
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See Also:
- America's top pharma CEOs just got grilled by Congress over the cost of their drugs
- The CEO of a $210 billion pharma company says that US drug prices are working against patients. One chart explains why.
- Congress will grill 7 top pharma executives over the high cost of drugs today. Here's how they're set to shift the blame.
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