Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By



Executive Summary

House Ways & Means Committee Chairman Rostenkowski (D-Ill.), who is chairing the House/Senate conference on catastrophic care legislation, favors the Senate bill's proposal to phase in drug coverage under Medicare. At a March 16 press briefing, Rostenkowski said a gradual implementation of Medicare drug coverage "is a hell of a lot more attractive to me than the one-time big hit." Caution with regard to costs is needed, he added, "to protect the bill so that it's going to be signed" by President Reagan. The proposed drug benefit "is expensive," Rostenkowski said. "Nobody really knows what the price is going to be, and that always frightens me. We don't have a long-rante analysis of where we will be with prescription drugs." The House hopes the bill can be reported by the conference committee by the end of April before Rules Committee Chairman Pepper (D-Fla.) brings long-term care legislation to the House floor. Rostenkowski said conferees "are looking at getting the bill done, sending it to the staff over the Easter break [April 1-10], and possibly voting on the conference report." Rostenkowski believes that the Pepper bill could threaten passage of the catastrophic care bill if it precedes catastrophic care to the House floor because members would not want to vote for two large increases to Medicare benefits in the same year. "I don't think the [Pepper] bill will become law because I don't think the President can afford to sign it," Rostenkowski remarked, estimating the bill's costs at $30 bil. Conferees held their first meeting March 16 and indicated they would keep to their tentative schedule. In an opening statement, Rep. Stark (D-Calif.) said he expected President Reagan would sign the bill before Memorial Day. Rostenkowski announced that the House conferees would offer a proposal regarding minor technical issues. The proposal was drafted by House and Senate staff, and should meet with quick agreement by the Senate conferees. In a letter to fellow conferees, Stark criticized the grass roots letter solicitation by the Pharmaceutical Manufacturers Association. Calling the campaign, "sleazy," Stark questioned the validity of the group sending one of the letters, the Physicians Committee on Quality Health Care. In a response, PMA said its recent activities in support of the Senate measure included funding of "a mailing by the president of the Physicians Committee on Quality Health Care to about 12,000 constituents of the conference committee members, urging them to write their congressional representatives to support the Senate version." PMA noted that the letter was signed by Francis Davis, MD, president of the Physicians Committee and chairman and president of Private Practice magazine.

You may also be interested in...

Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data

Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011

FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance

FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials

Shire Hopes To Sow Future Deals With $50M Venture Fund

Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth




Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts