White House claims Speaker Nancy Pelosi’s drug-pricing bill would result in 100 fewer drugs over a decade - (CNBC via NewsPoints Desk)

  • The White House claims that US House Speaker Nancy Pelosi's drug-pricing bill would lead to as many as 100 fewer drugs entering the US market over the next decade, reported CNBC.

  • Citing an analysis from the Council of Economic Advisers, an agency within the executive office, the Trump administration also argued that the proposed legislation would cost the US economy $1 trillion per year over that time period.

  • Pelosi's bill would allow the Department of Health and Human Services to negotiate lower prices on the costliest drugs each year.

  • In October, the Congressional Budget Office (CBO), an independent agency that reviews congressional spending, estimated the bill would produce $345 billion in savings if enacted. 

  • It also said the bill would lead to a reduction of eight to 15 new drugs entering the US market as the new rules would cause pharmaceutical companies to generate less revenue, in turn prompting them to cut R&D spending. 

  • Meanwhile, Pelosi is awaiting the final review from the CBO on her bill. That is expected to come out later this month, according to a senior Democratic aide.

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