New Estimate On House’s Proposed Drug Bill Reports Fast Savings Of $345B To Taxpayers, Big Changes To Drugmakers
The bill proposes that Medicare establish prices based on a price index on other nation's sales. News on the industry looks at how Canada's transparency on drug trials differs from the U.S., as well.
House Drug Bill Would Save $345 Billion, Reshape Pharma Industry
A drug-price proposal from Democrats in Congress would save taxpayers $345 billion over a seven-year period, according to a new estimate, punching a hole in pharmaceutical company sales and causing ripple effects in health-care systems around the world. The bill, H.R. 3, is backed by Speaker of the House Nancy Pelosi and other Democrats in the chamber. It would direct Medicare, the U.S. government health program for the elderly and disabled, to set pharmaceutical prices based on an index of what other developed nations pay for top-selling drugs. (Armstrong, 10/11)
Canada's Transparency With Clinical Trial Puts Pressure On U.S. FDA To Reveal More
Last March, Canada's department of health changed the way it handles the huge amount of data that companies submit when seeking approval for a new drug, biological treatment, or medical device — or a new use for an existing one. For the first time, Health Canada is making large chunks of this information publicly available after it approves or rejects applications. Within 120 days of a decision, Health Canada will post clinical study reports on a new government online portal, starting with drugs that contain novel active ingredients and adding devices and other drugs over a four-year phase-in period. (Mantel, 10/11)