Drug Price Increases Accelerate: ‘Political Opportunism’ In A Return To Business As Usual?
Advocates for drug pricing reform don’t have much in the way of price increases to complain about at the moment – but they argue that the price hikes they are seeing suggest a growing confidence among manufacturers that the threat of drug pricing reform is subsiding.
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When the Democratic party regained control of the US House of Representatives in 2019, their push to enact comprehensive drug pricing legislation began with a hearing on insulin. After four years, it might be ending with insulin as the sole focus after all.
President’s address to Congress expected to urge action on the provisions in the stalled Build Back Better legislation as part of a call to address inflation – though whether the speech will include the “i-word” remains unclear. PhRMA emphasizes that drug prices are stable.
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.