US, UK, EU Launch Joint Task Force To Fight High Drug Prices
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
Reuters:
EU Regulators Team Up With U.S. And UK On Pharmaceutical Mergers
EU antitrust enforcers have teamed up with their U.S. and British counterparts to share expertise on how to examine mergers in the pharmaceutical industry amid concerns such deals could push up prices or hold back innovation. The COVID-19 pandemic and vaccine supply bottlenecks have spurred regulatory interest in the pharmaceutical industry which has seen a wave of consolidation in recent years. (Chee, 3/16)
Bloomberg:
U.S., EU Regulators To Overhaul Pharma M&A Reviews
U.S., European Union and other antitrust enforcers are teaming up to overhaul how they weigh pharmaceutical mergers in a move that could curb transactions seen as raising prices or dampening innovation. The Federal Trade Commission and the Justice Department will work with the European Commission, the U.K.’s Competition and Markets Authority and the Canadian Competition Bureau to identify ways to scrutinize deals more closely, according to emailed press releases from the FTC and the EU. Three state attorneys general will also join the group, the statement said. (White and McLaughlin, 3/16)
Stat:
Pharma Mergers Face Fresh Scrutiny By A New International Antitrust Group
In response to a spate of pharmaceutical mergers, several antitrust regulators and enforcement agencies from the U.S. and Europe are forming a working group to better understand the impact these deals have on prescription drug pricing and competition. The goal is to update the approach taken to analyzing potential economic harms that a merger may cause; the extent to which a merger may thwart R&D innovation; evidence needed to challenge a merger; and how other conduct in which companies have engaged — such as instances of pricing fixing — be considered when reviewing a deal. (Silverman, 3/16)
In drug-pricing news from Wisconsin, Illinois, Kansas and Colorado —
AP:
Prescription Drugs, Health Insurance Bills Up For Votes
A plan designed to lower prescription drug costs in Wisconsin was scheduled for final legislative approval on Tuesday. The state Assembly was slated to pass the bill setting new requirements for pharmacy benefit managers. They negotiate prices with drug manufacturers on behalf of insurers. The bill, which passed the Senate in February and has bipartisan support, would require them to register with the state and submit annual reports with the state on rebates they receive from drug makers and whether those savings were passed on to customers. (3/16)
Alton Daily News:
House Committee Discusses Insulin Prices
A new Illinois law caps insulin prices for those with state-regulated insurance plans, but some lawmakers are saying that is not enough and more needs to be done to address prescription drug prices. In January, Illinois became the second state in the country to cap insulin costs. The law caps out-of-pocket insulin costs at $100 per month, but only for people covered by a state-regulated insurance plan. That covers about 20% of the plans available in the state. As a result, many Illinoisans still pay much more for insulin. (Bessler, 3/15)
WIBW (Topeka, Kansas):
Marshall-Backed Bill Passes Senate To Lower Prescription Drug Costs
A bill has passed the U.S. Senate to help lower the cost of prescription drugs. Senator Roger Marshall says the U.S. Senate passed the Ensuring Innovation Act, which he helped introduce with Sens. Bill Cassidy (R-La.) and Tina Smith (D-Min.) to help lower the price of prescription drugs. He said the legislation will help provide clarity for drug exclusivity to prevent market exclusivity to products that do not represent innovation and delay cheaper generic brands from entering the market. (Motter, 3/13)
AP:
Colorado Legislature To Consider Panel To Limit Drug Costs
A bill introduced in Colorado would establish a panel of experts to investigate drug cost increases and then set perimeters on prices for the most expensive prescriptions, state officials said. The bill was introduced on Monday and is sponsored by four Democrats, including state Sens. Julie Gonzales and Sonya Jaquez Lewis and state Reps. Yadria Caraveo and Chris Kennedy, The Daily Sentinel reported. (3/10)
Colorado Times Recorder:
Colorado Conservatives And Big Pharma Firms Fight Bill To Lower Prescription Drug Prices
A bill intended to reign in the rising costs of prescription drugs is once again drawing opposition from Big Pharma and conservative advocacy groups. During a panel discussion on proposed legislation limiting major price increases for prescription drugs Tuesday, state Rep. Matt Soper (R-Delta) said a “price-setting” board is a “leading priority” of Gov. Jared Polis (D-CO). Soper was referring to proposed legislation, introduced Monday by Democrats and supported by Polis, that would create a Prescription Drug Affordability Board (PDAB), composed of non-partisan experts to investigate cost increases of some prescription drugs and set limits on how much prices could be raised. (Price, 3/11)
