Rep. Tom Price, R-Ga., indicated at his confirmation hearing Tuesday that he may be open to allowing the federal government to negotiate Medicare drug prices, but only after being pressed repeatedly by a top Democrat.
Sen. Ron Wyden, the ranking Democrat on the Senate Finance Committee from Oregon, pressured Price to explain whether he would support a policy change advocated by President Trump to allow the government to negotiate lower prices with private plans that cover drugs for seniors. Price is Trump’s nominee to lead the Department of Health and Human Services.
“I’m asking about a specific idea, and it’s not mine, it’s the president’s,” Wyden said. “And the question is: will you advocate to Republicans for authority to negotiate. It’s yes or no.”
Price noted that negotiations happen frequently in the private sector through pharmacy benefit managers, or PBMs, which bargain for lower prices.
“I was going to respond to say right now PBMs are doing that negotiations,” Price responded. “I think it’s important to look at it if there’s a better way to do that and if there is I’m willing to do that.”
Allowing Medicare drug negotiations is a touchy subject among Republicans. They generally oppose the idea, yet Trump repeatedly said on the campaign trail and as the president-elect he wanted to crack down on soaring drug prices.
