Biden urges US Congress to take steps to lower prescription drug costs

WASHINGTON, Aug 12 (Reuters) - President Joe Biden on Thursday called on U.S. lawmakers to enact legislation aimed at lowering drug prices, including allowing Medicare to negotiate drug prices and imposing penalties on drugmakers that hike prices faster than inflation. The Democratic president's remarks laid out his vision to help reduce the costs for prescription medications as part of the Build Back Better agenda he is seeking to push through Congress as the nation continues to grapple with the COVID-19 pandemic.