Kamala Harris: Democrat Harris unveils plan to lower drug costs, put 'people over profit' - (The Economic Times via NewsPoints Desk)

  • Democratic presidential candidate Kamala Harris has unveiled a plan to penalise drugmakers for excessive prices for prescription drugs, as reported The Economic Times Tuesday.

  • The sitting US Senator indicated that her plan would greatly lower drug costs by allowing the federal government to set fair prices for drugs and forcing companies to pay rebates to consumers for artificially high prices.

  • "As President, I will not stand idly by as Americans pay thousands of dollars for prescription drugs while big pharmaceutical companies rake in massive profits," Harris stated, adding "this plan puts people over profit by forcing these companies to reduce prices for consumers and holding them accountable when they gouge Americans."

  • Under Harris' plan, a "fair price" would be defined as no more than 100% of the average price in comparable countries.

  • The news follows similar proposals by presidential hopefuls, including a plan by Senator Joe Biden that would repeal the provision that blocks Medicare from negotiating drug prices.

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