Private equity investors are lobbying against Nancy Pelosi's drug pricing bill, telling her legislative aides the plan would dry up financing for small biotech firms.
Venture capitalists held a series of private meetings with lawmakers and congressional aides over the last month.House Speaker Nancy Pelosi speaks at a Fed Up? Rise Up! rally outside the US Capitol in Washington, DC September 24, 2019.'s sweeping drug pricing bill, telling her legislative aides in a series of private meetings in recent weeks that the plan would dry up financing for small biotech companies.
Passage of Pelosi's drug plan, which is scheduled for a vote on the House floor as early as Wednesday, could spur investors to take their money elsewhere, the venture capitalists warned lawmakers. The legislation would allow the U.S. government to negotiate lower prices on the costliest drugs each year.
A spokesman for Pelosi didn't immediately return calls for comment, but he previously said the bill would provide "real negotiations that require HHS to reward genuine innovation, while protecting American patients from price gouging."
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