Medicare Drug Pricing Reform Is A Reality: Here Is What’s On The Agenda
Congressional Democrats achieved a long-sought goal in passing major legislation to control drug prices in Medicare. A complete lack of Republican support suggests the programs established by the bill will face the same kind of legislative and legal challenges that confronted the Affordable Care Act, which was enacted in a similar manner.
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The early February date for publishing the list of products eligible for price negotiations could dictate approval strategies for drugs with potential for big sales in Medicare going forward.
A new Medicare rebate for discarded portions of single-use vials is taking effect as scheduled in January – but the first invoices won’t be issued in the fall as planned. CMS says it wants to wait to ‘align’ the collections process with the new inflation rebates enacted by the IRA.
Alkermes discusses oncology drug spin-off, Lilly discloses decision to halt development of a small molecule drug, and AbbVie comments on pending Medicare price negotiation for Imbruvica.