Part D Pricing and Subpoena Power: What the November Elections Could Mean for Wall Street
This article was originally published in RPM Report
The pharmaceutical industry has a lot riding on the mid-term elections: the Democrats only need to take back one chamber of Congress to do damage on Wall Street.
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Should a Democrat take the White House next January, top pharmaceutical executives expect a serious push for health care reform. The prospect of a health care reform debate triggers the specter of a single-payor, government-run system with price controls. But Democrats are singing a surprisingly soothing tune.
Contracting between pharma companies and Part D plan sponsors that took place last year for 2007 pricing and formulary placement was a relatively straightforward process. This year will be more interesting.
With the Democrats in control of Congress and high drug prices still making headlines, some Wall Street analysts are suggesting a proactive, and surprising, response from Big Pharma: voluntary price caps.