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January 2007
 Prescription Drug Pricing in the Private Sector
The Medicare Prescription Drug Price Negotiation Act of 2007 (H.R.
4) introduced on January 5, 2007, is projected to have a limited
ability to reduce federal spending on medications. The terms of H.R.
4 revise the Social Security Act to enable the Secretary of Health
and Human Services (HHS) to negotiate with pharmaceutical
manufacturers. The limited effect on federal spending is projected
to stem from constraints built into the proposed legislation that
will prohibit a federal drug formulary and will allow prescription
drug plans (PDP) to negotiate separately with pharmaceutical
manufacturers to possibly
reach lower prices than those reached by the Secretary of HHS.
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