U.S. Would Gain Power to Negotiate Drug Prices Under Manchin-Schumer Bill

A deal between Senate Democrats has revived legislation to significantly expand government regulation of prescription-drug prices and limit the out-of-pocket costs of Medicare seniors who use expensive medicines.

If the bill becomes law, Medicare would gain the authority to negotiate how much it pays for certain prescription drugs and force drugmakers to provide a rebate if they raise the prices of their medicines above the inflation rate.