Formalizing 'Name And Shame': New Strategy To Rein In Price Increases
A bipartisan bill would require pharmaceutical manufacturers to provide notice and justification of any price increase over 10%. That formula resonates with Allergan’s recent price pledge, Hillary Clinton’s newest pricing oversight campaign proposal – and may be hard for industry to fend off in the context of must-pass user fee bills in 2017.
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Plan would empower new agency to investigate and potentially fine drug manufacturers that make unjustified price increases.
Bayer AG's CEO for the UK and Ireland, Dr. Alexander Moscho, outlines his concerns about the reformed cancer drugs reimbursement system in England and Wales, which in October 2016 saw the first new drug introduced since an overhaul and relaunch earlier this year. Moscho also highlights his worries around proposals from NICE to introduce fees for appraisals of new medicines for use on the National Health Service, which he believes could taint the health technology appraisal committee's reputation and generate skepticism around its independence from industry.
Legislation like FAIR drug pricing bill, which requires sponsors to justify price increases over 10%, could ultimately discourage generic competition since it could burden ANDA sponsors for even small dollar increases, GPhA CEO Davis argues.