Drugmakers are attempting to limit Medicare’s newfound ability to negotiate drug prices while also dealing with internal industry disputes and dwindling influence in Washington, D.C. Congress granted Medicare, the country’s largest buyer of prescription drugs, the authority to negotiate how much it pays for certain high-priced therapies and to receive rebates on treatments whose prices… Continue reading Big Pharma Looks to Ease Impact of Inflation Reduction Act
Tag: drug prices
Biden Urges U.S. Congress to Take Steps to Lower Prescription Drug Costs
President Joe Biden on Thursday called on U.S. lawmakers to enact legislation aimed at lowering drug prices, including allowing Medicare to negotiate drug prices and imposing penalties on drugmakers that hike prices faster than inflation. The Democratic president’s remarks laid out his vision to help reduce the costs for prescription medications as part of the… Continue reading Biden Urges U.S. Congress to Take Steps to Lower Prescription Drug Costs
U.S. Judge Strikes Down Trump Administration Rule Requiring Drug Prices in TV Ads
A federal judge on Monday dealt a blow to the Trump administration by striking down a new rule that would have forced pharmaceutical companies to include the wholesale prices of their drugs in television advertising. U.S. District Judge Amit Mehta in Washington sided with drugmakers Merck & Co Inc, Eli Lilly and Co and Amgen… Continue reading U.S. Judge Strikes Down Trump Administration Rule Requiring Drug Prices in TV Ads
Trump Targets Rebates to PBMs to Lower Drug Costs
The Trump administration proposed ending a complex system of drug rebates that influence tens of billions of dollars in U.S. pharmaceutical spending, a move that could upend the relationship between drugmakers and pharmacy benefits middlemen. The proposal, a long-awaited part of the administration’s plan to target high list prices of drugs, would ban rebates paid… Continue reading Trump Targets Rebates to PBMs to Lower Drug Costs
U.S. to Propose TV Ads for Drugs Must Include List Prices
The U.S. government, in an effort to increase pressure on drugmakers to lower costs for U.S. consumers, said on Monday it will propose requiring companies to include the price of their prescription medicines in television ads. Health and Human Services (HHS) Secretary Alex Azar, in announcing the plan, dismissed suggestions by major U.S. drug companies… Continue reading U.S. to Propose TV Ads for Drugs Must Include List Prices