Biopharma Needs A Deal On Drug Pricing As Shield Against Possible Democrat Wins – BIO’s Greenwood
Outgoing Biotechnology Innovation Organization CEO suggests consideration of price inflation caps instead of 'big discounts' in Medicare Part D and says that industry should fund a cap on beneficiary out-of-pocket costs in the program.
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Newly enacted requirement for US health plans to report granular drug price and rebating data to the government suggests that the great rebate debate of 2017-2020 won’t be over for long. The first public release of aggregated data will likely come in 2023 – and that might be when Congress is ready to take up drug pricing again.
Senate and House versions of a pending coronavirus stimulus package take off the table a key legislative vehicle lawmakers planned to use to push for bipartisan drug pricing reform until at least after the 2020 elections, signaling a potential reprieve for the pharmaceutical industry.
The Congressionally-chartered Medicare Payment Advisory Commission is preparing a formal endorsement of a plan to overhaul Part D. It will come just in time to help move stalled legislation – and that legislation may be the best chance the drug industry has to fend off draconian pricing measures in 2021.