Biopharma Predicts ‘Significant’ R&D Reductions With Medicare IPI Model
Manufacturers refute Administration claims that Medicare International Pricing Index model will have minimal impact on industry innovation.
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Reductions in research and development spending will be much greater than the 1% average often quoted by HHS, consultant tells the Biotechnology Innovation Organization annual convention.
“I want to express my displeasure at the lack of cooperation from the pharmaceutical manufacturers recently,” Finance Committee chair says, noting that large firms had declined invitations to speak publicly.
HHS secretary notes Medicare Part B International Pricing Index could ‘harness’ biosimilar price competition seen abroad for US market, where follow-ons have not been able to significantly impact pricing.