Trump’s Drug Pricing Plan: The Headlines Are The Goal – But Also A Threat
The latest flurry of Executive Order activity on drug pricing reinforces the message that the President wants to own the headlines for being tough on the drug industry as Election Day looms. Looking for substance beyond that goal is a fool’s errand – but the headlines could still have significant consequences no matter who wins in November.
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Under test payment model, Medicare would pay no more than most-favored-nation price for Part B and Part D drugs, but how and when the model program would be implemented remains unclear. BIO may pursue legal action as questions on how plan would be implemented and if the administration will provide notice and comment period for stakeholder input remain.
The US pharmaceutical industry has to be pleased with the tone set by the Democratic National Convention that formally nominated Joe Biden for President. The campaign looks to be about Trump, COVID, and healing racial divisions, not drug prices.
Industry balks at President Trump’s latest effort to force biopharma to negotiate a drug pricing solution, but investors may be pushing for concessions that could head off more onerous policies supported by a Biden White House.