Under Pelosi’s “Lower Drug Costs Now Act,” the federal government would identify the 250 most expensive drugs every year and “negotiate” prices for at least the top 25. The negotiations, however, would be rigged. The bill forces a pharmaceutical company to accept a price for its drug that is no more than 1.2 times the average price of that drug in the countries of Australia, Canada, France, Germany, Japan, and the United Kingdom. If a company refuses to enter into negotiations for its drug, the federal government will impose a punitive excise tax of 65 percent on the gross sales of the drug. That tax will increase by 10 percent every quarter until it reaches a maximum of 95 percent.
Read more: Pelosi’s Price-Control Prescription Would Cost American Lives
