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Sens. Cory Booker and Bernie Sanders are pushing for the creation of a new federal agency aimed at controlling the rising cost of prescription drugs. The pair, who are both vying for the 2020 Democratic presidential nomination, proposed a bill Friday that would create a Bureau of Prescription Drug Affordability and Access, which would be responsible for determining the list prices of medications. The big stick: If a drug maker didn't comply, the government would void its exclusivity protections and allow other companies to produce generic versions of the medicine. (Luhby, 11/15)

The 2020 Democratic hopefuls were joined by fellow White House contender Sen. Kamala Harris (D-Calif.) as sponsors of the legislation. One of the main tenants of the proposal is that if a drug company did not comply with the regulations, it would void exclusivity protections, allowing other companies to produce generic copies of a drug. The senators noted the legislation is one of the few bills to directly address a drug's list price, which is the cost before any discounts or rebates and is usually only paid by the uninsured. (Johnson, 11/15)

“In a country as wealthy as ours, it’s downright shameful that people have to choose between taking their medicine or paying for other basic necessities,” said Booker, D-N.J. “Every day, millions of Americans struggle to afford their lifesaving medication while the manufacturers of these drugs profit hand over fist with limited to no oversight. "Canada has a similar board that determines whether a drug is overpriced by comparing prices with other countries. (Salant, 11/15)