Bloomberg Seeks to Limit Drug Patent Protection to Reduce Costs - (Bloomberg via NewsPoints Desk)

  • Democratic presidential candidate Michael Bloomberg would seek to reduce the cost of prescription drugs in the US with a plan that includes limiting new brand-name treatments to a single patent to get lower-priced generics to the market faster, reported Bloomberg.

  • He is also proposing capping out-of-pocket drug spending for Medicare beneficiaries at $2000 a year.

  • According to the news source, this would be in addition to steps other Democratic presidential candidates have proposed, including authorizing Medicare to negotiate drug prices and allowing Americans to buy medicine from foreign countries.

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