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 Harris, a U.S. senator from California, said her proposal would
dramatically lower drug costs by allowing the federal government to
set fair prices for what companies can charge and forcing them to
pay rebates to consumers for medicines sold at artificially high
rates.
“As President, I will not stand idly by as Americans pay thousands
of dollars for prescription drugs while big pharmaceutical companies
rake in massive profits," Harris said in a statement ahead of
speaking about the plan at a candidate forum in Iowa, the first
state to hold a nominating contest.
"This plan puts people over profit by forcing these companies to
reduce prices for consumers and holding them accountable when they
gouge Americans."
With the high cost of drugs and rising healthcare rates a pressing
issue for voters, debate over the future of the U.S. healthcare
system has become a focal point of the Democratic nominating
contest.
Democrats exploited the issue in last year's midterm congressional
elections and believe it helped them regain control of the U.S.
House of Representatives from the Republican Party.
Harris' proposal follows plans by several of her Democratic rivals
to lower drug costs, an issue they are keen to exploit after
Republican President Donald Trump backed down this month from a
policy aimed at getting drug companies to lower costs.
Harris was to announce her plan at one of the presidential candidate
forums being held across Iowa this week by the AARP, an influential
nonprofit organization that helps older Americans.
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Former Vice President Joe Biden, who leads the more than 20
candidates seeking the Democratic presidential nomination, touted a
plan at a forum on Monday that would repeal the law that prohibits
Medicare from negotiating lower prices with drug companies.
Harris has been gaining ground on Biden in opinion polls after she
delivered a strong performance at the first Democratic debate last
month.
She said if elected president, she would direct the Department of
Health and Human Services to set a fair price for any prescription
drug that is sold for a lower price in comparable countries, such as
Canada, the United Kingdom, France, Germany and Japan.
A drug's fair price would be no higher than 100 percent of the
average price for that drug in other comparable countries.
In addition, all drug company profits made from selling a drug above
the fair price would be taxed at 100 percent. Those taxed profits
would be sent back to consumers in the form of rebates.
Drug companies found to be charging artificially high prices would
receive a warning letter demanding they offer a price reduction
within 30 days. Harris would also seek to force companies to import
lower-cost alternatives and investigate companies overcharging
consumers for prescription drugs.
(Reporting by Tim Reid; Editing by Colleen Jenkins and Jonathan
Oatis)
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