Medicare Drug Price Negotiation Not A Major Threat To Pharma – Even If It Passes
Biopharma analysts discuss the likely impact of the drug pricing reform provisions in the Build Back Better legislation, which has hit a roadblock created by Democratic Senator Joe Manchin of West Virginia.
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Though popular, the proposal to cap insulin copays is a relatively minor part of the drug pricing reform package included in the stalled Build Back Better Act. But it may represent Democrats’ best chance of passing any drug pricing-related legislation while they still hold majorities in Congress.
New model suggests extra hit for accelerated approval drugs. But despite Congress and President Biden looking toward a scaled-backed version of the Build Back Better reconciliation package, many health care politics experts believe drug price negotiation will make it into law this year.
A Congressional Budget Office review of prescription drug pricing trends over the past decade shows a surprising fact: the average costs per prescription in the US is falling. That probably won’t change the political debate over drug prices – but maybe it should.