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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The Democratic party has been advocating for Medicare drug price negotiation authority in the US for almost two decades. The coming year may see it finally happen – or it might mean the issue is gone for good.
Joe Manchin’s refusal to vote in favor of the Biden administration’s Build Back Better legislation could prove to be a boon for the US biosimilars industry, following weeks of condemnation from the Association for Accessible Medicines.
Score of slimmed down Medicare negotiations in the Build Back Better legislation is $79bn, a far cry from the $456bn in savings projected from the draconian HR 3. But the bill’s overall impact on the deficit means that pharma might get a total reprieve – or go back on the chopping block.