The US House Ways and Means Committee has approved Speaker Nancy Pelosi's drug pricing bill, which will now go to the full House floor for a vote expected before the end of October, reported CNBC.
The legislation, which passed three committees along partisan lines, has a "high chance" of approval in the House, where Democrats control the chamber with 234 seats versus 197 for Republicans, the news source said.
In the Senate, Chuck Grassley and Ron Wyden have introduced their own bipartisan drug price bill that would make changes to Medicare by adding an out-of-pocket maximum for beneficiaries and capping drug price increases at the rate of inflation, among other measures.
However, industry trade group PhRMA opposes both Pelosi's and Grassley's plans, arguing the measures would restrict access to innovative medicines and fail to provide meaningful relief to seniors at the pharmacy counter.
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