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Executive Summary

President Reagan has just signed into law a program that will make Medicare a major player in your company's future. For the first time, this massive government health insurance program will begin reimbursing the elderly for a portion of their outpatient Rx drug costs. "The Pink Sheet" is preparing for publication an in-depth report on the Medicare Outpatient Drug Program to help you understand and prepare for this significant change in the marketplace. The report will examine the good news: Pharmaceutical reimbursement experts predict that Medicare's entry will increase the number of prescriptions, as well as the dollar amounts spent on prescriptions in the marketplace. It will also probe the following challenging implications: * Brandname firms must adopt new pricing strategies to remain competitive: See how one company is already doing it. * Congress will pursue "every option short of price control" to rein in drug costs: Gain insights into what Capitol Hill is likely to do. * HHS' agents will fan out to "counter-detail" inappropriate prescribing by physicians: Discover what standards the government will use for this controversial education effort. * Medicare is gearing up to compile "the most extensive database ever assembled" on RX drug use by the elderly and pharmaceutical pricing practices: Find out about the enormous power this information will give HHS. * HHS will be able to single out individual companies whose pricing policies appear "out of line": Learn what might result from this unwanted attention. * Medicare has the authority to demand pricing data from manufacturers and wholesalers: Be alerted to the penalties for noncompliance with these disclosure requirements. * Timing of a company's price increases will become critical under the Medicare program: Find out how pharmacies stand to lose heavily if your timing is off. * HMOs may wind up with a substantial slice of Medicare's new drug benefit: Be alerted to how HMOs can get around congressional prohibitions on formularies and price controls. In short, the Medicare Outpatient Drug Program will have an impact on all aspects of pharmaceutical pricing and marketing. Michael Pollard, executive director of the American Pharmaceutical Institute, has observed: "For the first time in history . . . the federal government will have the information to actually 'manage' a prescription drug program. You can't afford to wait until January 1991 to understand how the program will change your business. Place your order today for "The Pink Sheet" special report on the Medicare Outpatient Drug Program. The $ 85 special report is available at a pre-publication rate of $ 70 (Please note: This offer ends Aug. 15). Multiple copies (5 or more) are available for $ 65 each. Order from: Ed Picken, F-D-C Reports, Inc., 5550 Friendship Blvd., Chevy Chase, MD 20815, or call (301) 657-9830.

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