The focus on high drug prices continues as several lawmakers have introduced legislation that would increase access to generic drugs, allow Medicare to negotiate drug prices and allow the importation of less expensive drugs from other countries.
Drugmakers are under heavy scrutiny by lawmakers, consumers, medical professionals and the president for their pricing practices. On Jan. 31, President Donald Trump told drugmakers at a White House meeting they are charging too much for their products. The increased focus on drug prices was spurred by situations where the prices of older pharmaceutical products increased significantly. Most recently, generic drugmaker Mylan Inc. came under attack for increasing the cost of its EpiPen allergy injection by 400 percent in nine years.
Bloomberg Intelligence analyst Brian Rye told me in a Feb. 2 e-mail “legislation aimed at giving the federal government direct authority over Medicare Part D drug prices has little chance of near-term passage by a Republican-led Congress. Other measures may get more consideration, particularly those that can be perceived as speeding up the introduction of generic competitors.”
The bill that is most likely to move forward first is the Lower Drug Costs Through Competition Act(H.R. 749), which was introduced by Reps. Gus Bilirakis (R-Fla.) and Kurt Schrader (D-Ore.) Jan. 30.
House Energy and Commerce Committee Chairman Greg Walden (R-Ore.) said at a Feb. 2 hearing that his committee will consider H.R. 749 soon.
Walden said the legislation “would require the FDA to prioritize and expedite the review of generic applications for drug products that are currently in shortage or where there are too few manufacturers on the market.” He also said the bill would increase transparency on the generic drug application backlog at the FDA.
The legislation also would create a priority review voucher that the FDA would award to a manufacturer that brings a generic drug to market when there isn’t any competition for the brand product.
Read my full article here.
Stay on top of new developments in health law and regulation with a free trial to the Health Law Resource Center.
Learn more about Bloomberg Law and sign up for a free trial.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)