Trump Moves Ahead With ‘Most Favored Nation’ Medicare Drug Plan
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
Politico:
Trump Seeks Final Stamp On Drug Prices With Sweeping Rule
President Donald Trump has resurrected a long-delayed plan to slash drug prices, with advisers pitching him on an added benefit: It would hit an industry that Trump believes slow-walked coronavirus vaccine development until after the election. The about-face came after Oval Office meetings last week where Trump railed against vaccine maker Pfizer for not revealing that its vaccine was more than 90 percent effective until after Election Day, according to three people familiar with the discussion. (Owermohle and Diamond, 11/17)
The Hill:
Trump Officials Preparing To Move Forward With Major Step To Lower Medicare Drug Prices
The Trump administration is preparing to move forward with a major proposal to lower drug prices and rulemaking could come as soon as this week, according to people familiar with the effort. The move, fiercely opposed by the pharmaceutical industry, would implement President Trump’s “most favored nation” proposal and lower certain Medicare drug prices to match prices in other wealthy countries. (Sullivan, 11/16)
The Wall Street Journal:
Trump Administration’s Rule Ending Drug Rebates In Medicare Nears Final Approval
The Trump administration’s revived rule to end rebates that drugmakers give to middlemen in Medicare is awaiting approval from the Office of Management and Budget and a final rule could be imminent, according to a person familiar with the matter. The administration has said the rule would drive down the prices consumers pay for prescription drugs. An earlier version of the rule, a signature part of President Trump’s plan to lower drug prices, was withdrawn in 2019 because some White House advisers raised concerns that it could increase Medicare premiums. Mr. Trump in July signed an executive order that revived the rule and added a requirement that it not raise premiums or increase federal spending. (Armour, 11/13)
Modern Healthcare:
Trump's Executive Order On Drug Rebate Rule May Not Be Binding
The Trump administration's executive order placing restrictions on rulemaking requiring middlemen to pass drug rebates directly to patients may not be legally binding. HHS on Friday submitted a final rule to the White House budget office that would prohibit pharmacy benefit managers from retaining rebates paid by drugmakers. The president in July signed an executive order stating that the HHS secretary must publicly certify that any such policy will not increase insurance premiums, federal spending or Medicare beneficiaries' out-of-pocket costs. However, regulatory experts say the agency could likely work around the order. (Cohrs, 11/16)
The Hill:
CEO Of Biotech Group Says Lawsuits Are On The Table To Stop Trump Drug Proposal
The CEO of a biotech and pharmaceutical trade group warned Tuesday that the industry could sue to try to stop a proposal from the Trump administration to lower drug prices. The Trump administration could move forward as soon as this week on a proposal to lower certain Medicare drug prices by tying them to lower prices paid in other wealthy countries, an idea fiercely opposed by drug companies, which are now mobilizing both to try to stop the rule and plan for a fight if it does go forward. (Sullivan, 11/17)
Also —
Stat:
Blame The 'Prescription Escalator' For Rising Drug Spending
A lot of attention and a bevy of proposals have focused on the rising cost of drugs, among all Americans, including older adults covered by Medicare. But are these costs really rising as fast as people think? Or is the concern over drug spending due to something I call the prescription escalator? (Mandel, 11/13)
Bangor Daily News:
She Could Pay $800 Monthly For Life-Saving Drugs Under New Plan For Maine University Retirees
This summer, the University of Maine System said it would be switching to a new plan in 2021 as part of a plan expected to save $2.5 million annually and affecting 2,875 retirees and dependents. After some research, Wanderer found that the plans most beneficial to her are much more costly. (Schroeder, 11/10)
