Industry Has Pumped $109M Into Fight Against Initiative To Curb Drug Prices
In contrast, supporters of the ballot measure have spent about $16.8 million.
The Wall Street Journal:
Drug-Price Ballot Proposal Stirs Industry Opposition
The pharmaceutical industry has contributed $109 million to defeat a ballot proposal to restrict drug prices in California, according to the state government—the latest flashpoint in a national debate over rising prescription costs. California voters will be asked Nov. 8 to vote on Proposition 61, which would prohibit state agencies from buying any prescription drug at prices higher than those paid by the U.S. Department of Veterans Affairs, with certain exceptions. The VA negotiates discounts with drug manufacturers. (Loftus, 11/3)
The Wall Street Journal:
Drug Industry Mounts Defense Of Pricing
The pharmaceutical industry is spending millions of dollars to fight groups advocating lower drug costs, as criticism of high prices mounts. Drug companies have long lobbied to protect their interests, but the industry-funded push is “more extensive this time,” said K.J. Hertz, a legislative representative for senior-citizen advocacy group AARP, which supports reining in drug prices. (Loftus, 11/3)
In other 2016 election news —
Los Angeles Daily News:
How Obamacare May Sway Voters
Polls have shown health care to be a far less important issue than the economy and foreign policy in the race between Hillary Clinton and Donald Trump. But as early voting and Election Day coincide with open enrollment for Medicare, Obamacare and employer-sponsored insurance, some Southern Californians are weighing the future of the nation’s health care system or their own out-of-pocket costs as they cast their votes...Covered California rates will rise an average of 13.2 percent, more than three times the rate of previous increases the last two years. The jump is far lower than the average 22 percent increase for midlevel plans announced for the federal Obamacare exchange, which covers 39 states. (Perkes, 11/3)