Biden Wants To Fine Drugmakers Who Hike Prices
The federal government will fine companies who increase prices faster than the rate of inflation — but only for 27 specific medications, and it won't happen until 2025.
Stat:
Biden Admin To Fine Drug Makers For Price Hikes
The Biden administration will fine drugmakers who hiked prices faster than the rate of inflation on 27 medications administered in physicians’ offices, the agency said Wednesday. Pfizer had the most drugs on the list of any manufacturer, with five. Seagen’s bladder cancer drug Padcev, which also garnered penalties, will likely soon be in Pfizer’s portfolio, too, after the pharma giant completes its $43 billion acquisition of the Washington state company. (Cohrs, 3/15)
Las Vegas Review-Journal:
Biden To Talk About Lowering Drug Costs At UNLV Event
President Joe Biden is expected to speak at the UNLV College of Hospitality on Wednesday about his administration’s efforts to lower prescription drug costs for Americans. Biden, who landed in Las Vegas on Tuesday evening and attended a private Democratic National Committee reception and fundraiser, is scheduled to address provisions in the Inflation Reduction Act that will help lower costs for people on Medicare, and how his proposed budget will lower prescription drugs costs for all Americans. (Hill, 3/14)
AP:
Biden Drawing Contrast To Republicans On Lower Drug Costs
President Joe Biden will highlight the stark differences in how Democrats are tackling skyrocketing drug prices compared to their Republican counterparts as he gears up for an expected reelection announcement. In a speech on Wednesday in Las Vegas that could serve as a preview of the campaign ahead, Biden planned to put the issue of lowering drug costs at the center of his policy and political agenda. (Seitz and Miller, 3/15)
Also —
Stat:
PhRMA Chief Dings Health Insurers Over Drug Prices
The head of the brand drug lobby used an in-person health insurance industry conference to blame insurers for making people pay too much for drugs. America’s Health Insurance Plans CEO Matt Eyles, interviewing PhRMA President Stephen Ubl, asked for examples of policies that would benefit both industries. Ubl responded by suggesting that insurers lower cost sharing for drugs. (Wilkerson, 3/14)
