Pharmaceutical Industry Sees Pros, Cons Of Biden’s New Executive Order
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
Becker's Hospital Review:
Why The Pharmaceutical Industry Has 'Mixed Views' On Biden's Latest Executive Order
The American Pharmacists Association "has mixed views" on the executive order President Joe Biden signed July 9 to address competition among drugmakers, hospitals, health insurers and hearing aid manufacturers. The executive order directs the FDA to work with states and tribal programs to import prescription drugs from Canada. In addition to its drug importation guidance, the order asks the Federal Trade Commission to ban "pay for delay" agreements, under which makers of brand name drugs pay generic drugmakers to keep out of a market. It also calls on HHS to increase support for generic and biosimilar drugs and to create a plan within 45 days to address high drug prices and price gouging. (Adams, 7/13)
Yahoo Finance:
Here's How Biden's Exec Order Could Bring Down Health Care Costs
President Biden’s recent executive order aims to help Americans save on medical and drug costs while expanding health care coverage access. His order requires changes with prescription drugs, enhancing price transparency rules, standardizing plan options in the health care marketplace, and allowing hearing aids to be sold over the counter. (Belmonte, 7/13)
FiercePharma:
With Sweeping Executive Order, Biden Puts Drug Pricing, Anti-Competitive Strategies In The Crosshairs
President Joe Biden campaigned on the goal of lowering prescription drug costs. So far, those promises haven't amounted to much. But late last week, the president unveiled a series of initiatives taking aim at pricing, anti-competitive practices, and more. In an executive order penned Friday, Biden doubled down on efforts to combat high prescription drug prices in the U.S. by promoting generic and biosimilar competition, allowing Medicare to negotiate drug costs and more. Despite the administration’s lofty ambitions, it remains “far from clear” whether Biden’s goals will pan out, one antitrust and competition lawyer said. (Kansteiner, 7/12)
Bloomberg:
Prescription Drug Prices In Sights Of Legislation Limiting Drugmaker Deals
Lawmakers will have a hard time objecting to legislation aimed at lowering prescription drug prices by limiting deals between name brand and generic manufacturers, Sen. Amy Klobuchar said Tuesday. “The stakes could not be higher,” Klobuchar (D-Minn.), chair of the Senate Judiciary Committee’s antitrust panel, said at a hearing. (Lopez, 7/13)
Also —
KTNV:
Nevada Representative Introduces New Bills On Lowering Prescription Drug Costs
Nevada's Democratic Rep. Steven Horsford has made lowering prescription drug costs a key pillar of his election promises, and on Tuesday the congressman plans to introduce two bills in an attempt to help people pay less at the pharmacy. The first bill, called the SPIKE Act, is designed to discourage quick price hikes by forcing any company that "spikes" the cost of a drug to justify the raise to the Secretary of the Department of Health and Human Services. (DeLancey, 7/13)
WGAL:
Pennsylvania State Representatives Are Introducing Legislation To Lower The Cost Of Prescription Drugs
Pennsylvania state representatives are introducing legislation to lower the cost of prescription drugs. The bill would create a prescription drug advisory board, setting limits on what pharmacies, providers and patients pay for some medications. The proponents say it would be similar to boards that already exist in other states. Rep. Dan Frankel, a Democrat serving part of Allegheny County, is sponsoring the legislation. (Merriman, 7/13)
Times Leader:
Rep. Pashinski: Cost Of Prescription Drugs Driving Up Health Care Costs
State Rep. Eddie Day Pashinski Monday said the increasing cost of prescription drugs is driving up health care costs. Pashinski, D-Wilkes-Barre, and Rep. Emily Kinkead, D-Pittsburgh, hosted a public hearing to discuss the need for drastic reforms to drive down the costs of prescription drugs for the well-being of Pennsylvanians who rely on medications for an improved quality of life. (O'Boyle, 7/13)
