los angeles california voters turn ballot initiative aim rein rise price prescription drug pharmaceutical company spend 100 million fight california drug price relief act also know proposition 61 seek limit state health program pay medications u.s. department veterans affairs va receive steep discount country wednesday morning 99 percent precincts partially report tuesday election vote 46 percent favor measure 54 percent oppose accord california secretary state pharmaceutical company spend lot defeat say stuart schweitzer professor health policy management university california los angeles field school public health want draw line sand measure defeat reaffirm power biopharma lobby jefferies analyst brian abrahams say note investors wednesday rise cost prescription drug come attack u.s. presidential campaign president-elect donald trump democratic candidate hillary clinton call cost-trimming measure include allow medicare federal health plan seniors negotiate price drugmakers share pharmaceutical biotechnology share pressure recent weeks soar wednesday market fear win clinton democrats gain power congress recede nasdaq biotechnology index .nbi advance percent track big single-day gain five years proposition 61 opponents lead global drugmakers pfizer inc amgen inc spend around 106 million argue would benefit 12 percent californians put 88 percent veterans across country risk high drug cost supporters lead aid healthcare foundation aarp advocate seniors say drug company raise price veterans consumers vermont independent senator bernie sanders also campaign support proposition 61 call voters stand greed pharmaceutical industry proponents raise 17 million support initiative estimate could save california taxpayers 5.7 billion 10 years although state legislative analysis say financial impact clear ucla schweitzer say measure would modest impact state drug cost also question proposition 61 would implement va mandate price list publicly steep negotiate price discount require law confidential va spend 6.1 billion year medicine million veterans proposition 61 would extend discount around 4.5 million californians include certain members state low-income medicaid plan state employees retire university teachers prisoners similar proposition approve ohio 2017 november ballot california voters turn drug price initiative