Clinton Proposes Drug Price Crackdown

Former Secretary of State Hillary Clinton is releasing her proposal today to address rising drug prices, as Bloomberg reports:

Hillary Clinton Drug Plan Would Cap Consumer Costs, Mandate R&D Spending

A day after a tweet about high drug costs from Hillary Clinton sent pharmaceutical and biotechnology stocks plummeting, the Democratic presidential candidate said that if elected, she’d implement programs to force the industry to concede tens of billions of dollars a year in tax breaks, lower prices and increase research spending.

Clinton’s proposals are a mix of programs that build on policy already in the Affordable Care Act, including caps on out-of-pocket spending. Other programs, like having the government negotiate prices directly with pharmaceutical companies, have been long-advocated by many Democrats. 

“It is time to deal with skyrocketing out-of-pocket costs and runaway prescription drug prices,” Clinton said Monday during a campaign rally at Philander Smith College in Little Rock, Arkansas. Nobody in America “should have to choose between buying the medicine they need and paying their rent.”

Read the full article at Bloomberg Politics: Hillary Clinton Drug Plan Would Cap Consumer Costs, Mandate R&D Spending