Senate Democrats Running Out Of Time On Drug Pricing Reform
Is less ambitious drug pricing reform better than nothing? Senate Finance Committee Chair Wyden still pushing for a version of the most aggressive policy, direct government price negotiation.
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The final push by Democrats to enact a drug price ‘negotiation’ bill is under way. The prospects are uncertain, but the intended impact is not: never again will there be a brand as successful for as long as Humira.
Innovator companies are not generally happy when congressional committees focus on the cost of prescription drugs, particularly in hearings supposedly focused on other subjects. But when a Senate committee discussing the US FDA user fee reauthorization process devotes considerable time to the theme of pricing, it probably isn’t such a bad thing.
The latest update by the US Centers for Medicare & Medicaid Services to national health care spending forecasts continues to put prescription drugs in line with – or even slightly below – overall growth rates. Of course, that likely won’t change the political attention to the issue in 2022.