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Senate Finance Committee Chairman Chuck Grassley (R-Iowa) on Wednesday announced his opposition to one of President Trump’s signature proposals aimed at lowering drug prices. Grassley told reporters that he opposes a plan that Trump announced in October to lower the prices Medicare pays for certain drugs by tying them to lower prices paid in other countries, an idea known as the International Pricing Index. (Sullivan, 6/19)

The Iowa Republican, whose panel oversees Medicare, had held back from commenting directly on the idea since the administration first outlined it in October. The administration still hasn't formally proposed the plan, and Grassley had been waiting for more details but said he’s studied it enough to render an opinion. “I don’t think that this administration’s approach on international pricing is going to be to the benefit of the adoption of research for modern drugs,” he told reporters Wednesday. (Siddons, 6/19)

The panel's Ranking Democrat Ron Wyden of Oregon said he and Grassley are meeting daily and sometimes several times a day about the proposals, which are now expected to come after the July Fourth recess, but he also declined to discuss specifics. (Luthi, 6/19)

In other news, another Senate committee is moving forward with a drug pricing hearing —

A key Senate committee is pushing forward with a surprisingly ambitious plan to lower drug prices as well as other health care costs. The bipartisan pair atop the Senate Health, Education, Labor, and Pensions committee formally introduced a major health care package Tuesday and simultaneously scheduled a vote on the measure for next week. It will be the first time a major Senate committee has taken up drug pricing legislation this year. (Flaherty, 6/19)