Dollars For Donuts: PhRMA's $80 Bil. Coup In Health Care Reform
PhRMA's commitment to contribute $80 billion toward health systems savings over the next 10 years looks like an important tactical win for the brand name industry entering the critical phase of the health reform debate
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Over the past 20 years, the pharmaceutical industry has notched a series of wins with its extraordinary federal lobbying expenditures and campaign contributions. A new JAMA Internal Medicine study examines spending from 1999-2018.
Finance Committee chairman decides not to seek re-election in 2014. He has a history of working productively with the drug industry on major legislation such as health reform, the Medicare Modernization Act and PDUFA reauthorizations.
The Budget Control Act created a 12-member bicameral panel charged with finding at least $1.2 trillion to cut from federal spending. The top Democrat and top Republican in each chamber of Congress appointed three members to serve on the joint committee. The Committee needs to make its legislative proposal by Thanksgiving, with only a simple majority needed to send the fiscal package to both chambers for approval. President Obama would then have to sign the bill by Jan. 15, 2012. A failure to accomplish this will trigger automatic spending cuts across all government programs as defined by the BCA (“Beware The Debt Deal’s Spending Cut Trigger: Medicare Part D and B Provider Pay Would Drop,” “The Pink Sheet” DAILY, Aug. 2, 2011). Health care related issues are expected to be a significant part of the discussions within the committee, including Medicaid-level rebates for drugs used by dual eligibles in the Medicare Part D program.