International Rx Pricing Debate Plays Out In U.S./Australia Trade Negotiations
Executive Summary
U.S. government agencies that purchase pharmaceuticals are understood to be exempt from drug price negotiation transparency requirements in a proposed U.S./Australia trade agreement
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The Budget Control Act created a 12-member bicameral panel charged with finding at least $1.2 trillion to cut from federal spending. The top Democrat and top Republican in each chamber of Congress appointed three members to serve on the joint committee. The Committee needs to make its legislative proposal by Thanksgiving, with only a simple majority needed to send the fiscal package to both chambers for approval. President Obama would then have to sign the bill by Jan. 15, 2012. A failure to accomplish this will trigger automatic spending cuts across all government programs as defined by the BCA (“Beware The Debt Deal’s Spending Cut Trigger: Medicare Part D and B Provider Pay Would Drop,” “The Pink Sheet” DAILY, Aug. 2, 2011). Health care related issues are expected to be a significant part of the discussions within the committee, including Medicaid-level rebates for drugs used by dual eligibles in the Medicare Part D program.
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