Drug prices and Medicare
Drug prices and Medicare
The Democratic victory in seizing Congress for the first time in 12 years has cast a black cloud over the drug industry. That's because they're expected to introduce legislation that could lead to lower prescription drug prices, according to Jon LecCroy, analyst for Natexis Bleichroeder.

The Democrats, led by Pelosi, will try to amend Medicare Plan D, enacted at the start of the year, to include provisions for the government to negotiate directly with the drug makers, which could drive down drug prices.

But "any legislative changes to the Medicare prescription drug benefit are likely to be met with a veto threat from President Bush," Andrew Parmentier, an analyst for Friedman, Billings, Ramsey & Co., said in a research note.

And it's far from clear that the Democrats can muster the two-thirds vote needed in both chambers to override a veto.
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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.