Big pharma money at risk
The nonpartisan congressional budget office ((CBO)) analyzed house speaker Nancy Pelosi's (D-CA 12th District) bill to lower drug prices and found that Medicare could save $345 billion between 2023 and 2029. That is more than the GDP of 90% of all countries. The saving would be by negotiating lower prices on up to 250 drugs per year, with savings applicable to both Medicare and people with private insurance. That's a lot of big pharma money! The CBO estimates that pharma revenues may reduce downwards of $500 billion, even down by