Morning Briefing
Summaries of health policy coverage from major news organizations
Drugmakers Make Counteroffer On Trump's Drug-Pricing Plan; Teva Indicted On Price-Fixing Charges
Politico: Drugmakers Deliver Counteroffer To Trump International Pricing Plan
Drugmakers pitched a counteroffer to the White House aimed at stalling President Donald Trump's plan to link Medicare’s spending on some expensive drugs to much lower prices they're sold for abroad, according to an internal memo circulated to industry lobbyists Monday. The proposal would save Medicare considerably less money than the administration's original international pricing index plan. But it could give Trump evidence he's making good on his 2016 campaign pledge to lower prescription drug prices before the election. (Owermohle and Luthi, 8/25)
Stat: Drug Makers Weigh Drug Pricing Changes To Ward Off Trump Executive Order
The pharmaceutical industry is weighing two drug pricing policies that it could offer as a trade to President Trump, in exchange for his dropping a different proposal that drug makers detest, according to three drug industry lobbyists and a summary of the potential changes obtained by STAT. (Florko, 8/25)
The Hill: Trump Deadline For Drug Pricing Order Passes With No Action
A deadline set by President Trump for moving forward with an executive order to lower drug prices passed at midnight on Tuesday without any action so far from the White House. Trump held a highly touted signing ceremony on July 24 for four executive orders aimed at lowering drug prices, a key issue for voters ahead of the election. But on the most consequential of the orders, to lower certain Medicare drug prices by tying prices to those paid in other countries, Trump delayed the order for one month, until Aug. 24, saying he wanted to give the pharmaceutical industry time to make a deal. (Sullivan, 8/25)
Kaiser Health News and Politifact HealthCheck: Trump Again Claims He’s Bringing Down Drug Prices, But Details Of How Are Skimpy
President Donald Trump has long considered lowering the high cost of prescription drugs to be one of his signature issues, and it is likely to be a talking point he relies on throughout the upcoming campaign. During his afternoon speech Monday ― delivered on the first day of the Repubublican National Convention after delegates had unanimously renominated him to seek reelection ― he returned to this theme. (Knight, 8/26)
CNN: Fact Check: Trump Misleads On Lowering Drug Prices
High drug prices have long been one of Americans' chief health care complaints, and Trump has long promised to do something about it. His administration released a 44-page blueprint of his vision in May 2018, though most of the measures remain only on paper. Trump has claimed victory in lowering prices in the past, though the data backing up the assertion was shaky. During his State of the Union address in February, he harkened back to a statistic he had mentioned the year before -- that the cost of prescription medications went down for the first time in 51 years. The President was citing the 12-month change in the consumer price index for prescription drugs for December 2018. However, the data bounces around a lot. Last month, it was up 1.7%. (Luhby, 8/22)
Also —
The Wall Street Journal: Teva Pharmaceutical’s U.S. Unit Indicted On Price-Fixing Charges
The U.S. business of Teva Pharmaceutical Industries Ltd. has been indicted on charges the drugmaker fixed prices on generic drugs, according to a person familiar with the matter. The Justice Department is expected to announce the charges imminently, the person said. The indictment is the highest-profile action in a long-running investigation of the generic-drug industry that has resulted in more than 10 cases against companies and executives. (Kendall and Hopkins, 8/25)
AP: Ex-Pharmaceutical Company Boss Faces Insider Trading Charges
The former head of a pharmaceutical company was arrested Tuesday in California on insider trading charges, accused of feeding secrets that enabled friends and family to earn over $700,000 illegally. Sepehr Sarshar, 53, of Encinitas, California, was charged in Manhattan federal court with securities fraud, wire fraud and fraud in connection with a tender offer. He was released on $1 million bail after an initial appearance in San Diego federal court. Authorities said he provided inside information in 2015 about a pending $3.2 billion buyout offer from Israel-based Teva Pharmaceutical Industries Limited, a generic drug giant, to his friends and family so they could trade securities in Auspex Pharmaceuticals, a company he founded. (8/26)
