Democrat Vows To Get Drug-Pricing Bill Passed In Any Way Possible
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
The Hill:
Pallone Commits To Using 'Whatever Vehicle I Can' To Pass Democrats' Drug Pricing Bill
House Energy and Commerce Committee Chairman Frank Pallone Jr. (D-N.J.) on Tuesday said he would use “whatever vehicle I can” to pass the Democrats’ drug pricing bill, known as H.R. 3, that would allow the federal government to negotiate for decreased prices on behalf of Medicare. Pallone joined health advocates from Protect Our Care New Jersey in calling for Congress to move forward with H.R. 3, or the Elijah E. Cummings Lower Drug Costs Now Act, to reduce prescription drug prices. (Coleman, 5/4)
Fierce Healthcare:
House Republicans Push To Make Drug Price Legislation Bipartisan
House Republicans want their Democratic counterparts to endorse more bipartisan-friendly reforms to drug pricing as the chances of a bill to give Medicare negotiating power look dim. Republicans on the House Energy and Commerce Committee endorsed during a hearing on Tuesday legislation that includes a series of reforms including an out-of-pocket cost cap for seniors on Medicare Part D. The comments come as Democrats are pressing for the inclusion of legislation to grant Medicare power to negotiate for lower drug prices in a massive infrastructure package. (King, 5/4)
AP:
Democrats Look For Path To Rein In Medicare Drug Prices
President Joe Biden's call for authorizing Medicare to negotiate lower prescription drug prices has energized Democrats on a politically popular idea they've been pushing for nearly 20 years only to encounter frustration. But they still lack a clear path to enact legislation. That's because a few Democrats remain uneasy over government price curbs on pharmaceutical companies. (Alonso-Zaldivar, 5/3)
FiercePharma:
Biden's Call To Action On Drug Pricing Draws Applause, But Don't Expect Reform From A Deadlocked Congress
President Joe Biden’s remarks on drug pricing during his first State of the Union address struck the right tone and drew a standing ovation. But the message rang hollow to many considering Biden’s $1.8 trillion American Families Plan includes no major proposals on the issue. “Let’s give Medicare the power to save hundreds of billions of dollars by negotiating lower drug prescription prices,” Biden said. “It won’t just help people on Medicare. It will lower prescription drug costs for everyone.” Cue the applause. (Dunleavy, 4/29)
Also —
Daily Inter Lake:
Bill Targets Skyrocketing Drug Prices In Montana
A bill that would give Montana officials the power to license and regulate pharmacy benefit managers — the middlemen that negotiate drug prices and determine which medications are covered by health insurers — is headed to Gov. Greg Gianforte's desk. Proponents say the measure would shine a light on a powerful yet obscure part of the health-care industry and create opportunities to address skyrocketing drug prices. (Sokol, 5/4)
Albany Herald:
Prescription Drug Price Rules Tightening Draws Concern, Praise
Prescription drug price negotiators are taking stock of new state laws that aim to clamp down on predatorial pharmaceutical practices that some companies worry could hamper efforts to lower medication costs in Georgia. Patient advocates and representatives from groups called pharmacy benefits managers (PBMs) contracted with health insurers to negotiate lower drug prices are awaiting data from new prescription cost reporting required in legislation state lawmakers passed last year. (Evans, 5/2)
Stat:
Rising Wholesale Prices Led To Higher Expenses For Half Of Insured Patients
Although the pharmaceutical industry argues that wholesale prices do not accurately reflect prescription drug costs, a new study finds that rising wholesale prices have, in fact, led to higher out-of-pocket expenses for roughly half of insured patients. The analysis examined 79 brand-name medicines from 2015 through 2017 and found that average wholesale prices — also referred to as list prices — increased by 16.7%. At the same time, there was a 5.4% rise in so-called net prices, which are paid by insurers and pharmacy benefit managers after drug makers offer rebates for more favorable insurance coverage. (Silverman, 5/4)
