Booker, Sanders propose new federal agency to control drug prices

Sens. Cory BookerCory Anthony BookerDemocratic senators introduce bill to push ICE to stop ‘overuse’ of solitary confinement Krystal Ball: Patrick’s 2020 bid is particularly ‘troublesome’ for Warren 2020 Democrats demand action on guns after Santa Clarita shooting MORE (D-N.J.) and Bernie SandersBernie SandersButtigieg surges ahead of Iowa caucuses Biden leads among Latino Democrats in Texas, California On The Money: Trump appeals to Supreme Court to keep tax returns from NY prosecutors | Pelosi says deal on new NAFTA ‘imminent’ | Mnuchin downplays shutdown threat | Trump hits Fed after Walmart boasts strong earnings MORE (I-Vt.) on Friday introduced a bill that would create a new federal agency focused on controlling the costs of prescription drugs. 

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The Prescription Drug Affordability and Access Act would form the Bureau of Prescription Drug Affordability and Access. 

The 2020 Democratic hopefuls were joined by fellow White House contender Sen. Kamala HarrisKamala Devi HarrisBiden leads among Latino Democrats in Texas, California Overnight Health Care: Cigarette smoking rates at new low | Spread of vaping illness slowing | Dems in Congress push to block Trump abortion rule Democratic senators introduce bill to push ICE to stop ‘overuse’ of solitary confinement MORE (D-Calif.) as sponsors of the legislation. 

One of the main tenants of the proposal is that if a drug company did not comply with the regulations, it would void exclusivity protections, allowing other companies to produce generic copies of a drug.

The agency is modeled after Canada’s Patented Medicine Prices Review Board, which reviews whether a medication is overpriced, comparing the cost to similar medicines in other countries. 

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