Why don't Republicans want Medicare to negotiate drug prices?

Excellent question! After all, Republicans are all about market power and negotiations, right? Why wouldn't they want Medicare to leverage its buying power on behalf of 50 million or so Medicare beneficiaries to get lower drug prices? read more

“If you want to have lower prices, you’re going to have fewer medicines,” said Kirsten Axelsen, a vice president at Pfizer, a pharmaceutical giant that leads all drug companies in spending on lobbying and political campaigns at the federal level. read more

The 2003 Medicare law prohibits Medicare from negotiating drug prices, setting prices or establishing a uniform list of covered drugs, known as a formulary. Mr. Reid said the Democrats fell short today because of “the power of the insurance industry and the pharmaceutical industry” and their close ties to Republicans in Congress. read more