Medicaid AMP lawsuit delayed
Executive Summary
A lawsuit seeking to block CMS from implementing a rule that would reimburse pharmacies 250 percent of the average manufacturer price for the least expensive drug in a multi-source group has been delayed because of the change of administration in the White House. The National Association of Chain Drug Stores, the National Community Pharmacists Association (who brought the original suit to keep the regulations from going into effect) and HHS requested the delay since CMS has yet to resolve any regulatory issues related to the definition of "multiple source drug." A hearing on the case had been scheduled for Feb. 25. Participants in the case do not expect action until at least the middle of May. A judge in the case granted a temporary injunction to prevent the rule from going into effect (1"The Pink Sheet," Dec. 17, 2007, In Brief). The Medicare Improvements for Patients and Providers Act delayed implementation of the rule through Sept. 30, 2009 (2"The Pink Sheet," July 21, 2008, p. 21). During the debate on the economic stimulus package in the Senate, Sens. Blanche Lincoln, D-Ark., and Debbie Stabenow, D-Mich., introduced an amendment that would have extended the delay through June 30, 2010, but no action was taken
You may also be interested in...
Medicaid holiday cheer for pharmacy
Medicaid's Internet publication of new average manufacturer prices and use of AMPs to set payment limits will be blocked temporarily, under a preliminary injunction granted Dec. 14. The U.S. District Court for D.C. will hear the suit against the AMP rules, filed by the National Community Pharmacists Association and National Association of Chain Drug Stores (1"The Pink Sheet" Nov. 12, 2007, p. 26)...
News We’re Watching: AI Safety Partnership; Boston Scientific Recalls; New Cancer, STI Tests; VR
This week, the US and UK announced a partnership to promote AI safety. Boston Scientific recalls embolic agent. LumiCell received FDA approval for its imaging agent to detect residual cancer. Scout receives an award to develop an STI test; and Osso VR leverages the Apple Vision Pro for VR medical training.
Finance Watch: Canaan, Regeneron Reveal New Funds For Start-Ups
Private Company Edition: Regeneron launched a $500m venture fund and Canaan added $100m, bringing the venture firm’s recent total to $1bn-plus. Also, incubators plan to grow over the next decade and in recent financings Avenzo raised $150m and Nvelop launched with $100m.