Lilly Isn't (Immediately) Worried About US Drug Pricing Legislation
Government price 'negotiations' unlikely to be enacted in the near term, CEO Ricks tells investors, but reform of the Part D benefit also faces long odds, even though Lilly would support well designed changes.
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PhRMA CEO Steven Ubl offers list of policy alternatives to drug pricing bills pending in the US Congress that he argues would stifle innovation; industry's plans, on the other hand, could produce "meaningful" legislation.
House subcommittee hearing on drug price negotiation bill championed by Speaker Nancy Pelosi showcases strong Republican opposition, and Senate Finance Committee Chairman Chuck Grassley suggests his bill may not be ready for a floor vote until next year.
With no legislative remedy in sight, the Medicare Part D out-of-pocket payment threshold will increase by $1,250 in 2020, causing many beneficiaries to linger longer in the coverage gap, where manufacturers provide 70% discounts on branded drugs.