Biden revives Hillary Clinton’s 1994 drug pricing council, suspends cancer initiative

Joe Biden’s healthcare plan, released Monday, proposes giving Medicare power to mandate drug prices. An independent board established by the secretary of HHS would recommend a “reasonable price” that Medicare and a new public option health insurance provider would pay for new specialty drugs.

The board would base prices on an international reference pricing scheme, or, for drugs first sold in the U.S., “on an evaluation by the independent board members.”...