House wants $60B in Medicare rebates, 12-year shield for biotech drugs

10/29/2009 | Wall Street Journal, The · Hill, The

The House's health reform bill would require drugmakers to pay an estimated $60 billion in Medicare reimbursements throughout 10 years and allow the federal government to negotiate prices directly with companies. The bill would also grant manufacturers of brand-name biotech drugs 12 years' exclusivity before generic rivals can be launched. Ken Johnson, senior vice president of the Pharmaceutical Research and Manufacturers of America, warned that the Medicare provisions "could lead to catastrophic job losses and cuts to [research and development]."

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Wall Street Journal, The · Hill, The