White House To Reveal Which 10 Drugs Are First For Medicare Negotiation
The announcement is expected ahead of a celebratory event Tuesday, Politico reports. Meanwhile, Stat says that in what's "almost a tradition," many pharmaceutical companies are raising drug prices mid-year. Florida's attempt to import cheap Canadian drugs is also in the news.
Politico:
White House To Name First 10 Drugs For Medicare Negotiations Early
The Biden administration is expected to disclose early next week the first 10 prescription drugs selected for Medicare price negotiations, ahead of a White House event Tuesday to celebrate the milestone, four people involved in the plans told POLITICO. The announcement will mark a major step in a bid to lower drug prices through the first-ever direct negotiations between Medicare and pharmaceutical manufacturers over a set of medicines. (Lim and Cancryn, 8/23)
Stat:
Mid-Year Drug Price Hikes Are Back Despite Inflation Reduction Act
It’s almost a tradition. At the start and halfway points of each year, many pharmaceutical companies raise drug prices to bolster revenue and reportedly fund new research. (Bajaj, 8/24)
Stat:
DeSantis Wants To Import Drugs. Biden’s FDA Blasted His Plan
Florida governor and presidential hopeful Ron DeSantis has ballyhooed a high-profile plan to import prescription drugs from Canada, even suing the Biden administration for allegedly holding up a necessary sign-off. But the plan’s long odds just got longer: the Food and Drug Administration said in a letter last week that Florida’s plan has gaping holes — and the state has less than a week to explain how it’ll fix them. (Wilkerson, 8/23)
Axios:
As Health Care Costs Soar, Employers Struggle With How To Cover New Pricey Treatments
Facing a tight labor market and rising health care costs, employers are wrestling with how to afford a new wave of pricey, highly effective treatments without forcing workers to bear too much of the cost. From emerging gene and cell-based therapies in cancer and other conditions to a buzzy class of weight-loss drugs, the landscape for game-changing treatments has never been quite so promising — or expensive for employers. (Reed, 8/23)
Fierce Healthcare:
Employers Want To See Drug Price Reforms In Commercial Space
The Business Group on Health released its annual survey of large employers this week and found that 91% are either concerned or very concerned about overall pharmacy cost trend. Alongside that finding, the survey identified that the median spending on pharmacy continues to grow, rising from 21% in 2021 to 24% in 2022. In addition, 92% said they were either concerned or very concerned about high-cost drugs coming through the pipeline. Specialty pharmacy accounts for a growing portion of health spend, and orphan drugs for rare, complex diseases account for large swaths of products coming to market. (Minemyer, 8/23)
