Obama calls for drug pricing reforms<p>

In a commentary published in the Journal of the American Medical Association, President Obama called for congressional action to address drug costs. Obama wrote that the federal government should have authority to negotiate prices for certain drugs, and called for higher manufacturers' rebates for drugs prescribed to some Medicare and Medicaid beneficiaries. Obama also called for the passage of transparency laws that would require drug manufacturers to disclose development and production costs.

Obama criticized the pharmaceutical industry for opposing "any change to drug pricing, no matter how justifiable and modest, because they believe it threatens their profits." The commentary, which broadly assessed the effects of the Affordable Care Act, also suggested that Congress establish a Medicare-like public insurance plan "to compete alongside private insurers in areas of the country where competition is limited." ...