President Trump today touted “bold” plans to lower drug prices in unspecific terms. Simultaneously, CMS issued an Advance Notice of Proposed Rulemaking (ANRPM), describing options to test Medicare reimbursement based on an “International Pricing Index” (IPI), under which U.S. drug prices would be benchmarked against 16 other countries that reportedly have lower drug prices. This
On October 15, CMS released a proposed rule titled “Medicare and Medicaid Programs: Drug Pricing Transparency,” which would require direct-to-consumer (DTC) advertisements for prescription drugs covered by Medicare or Medicaid to include the Wholesale Acquisition Cost (WAC). This proposed rule resembles a rejected Senate amendment to the FY-2019 Labor-HHS-Education appropriations bill (analyzed here) that would
Update (9/18/2018): Last week, as the U.S. House of Representatives was reconciling its spending bill for the Health and Human Services Department (HHS) with the amendment package passed by the U.S. Senate that is discussed below, House Republicans declined to adopt S.Amdt. 3964, which would have provided HHS with $1 million to issue rules requiring pharmaceutical companies to list prices
Adoption of value-based pricing, where drug prices are linked to real-world outcomes rather than on a per-pill or per-treatment basis, will have a profound impact on the pharmaceutical industry.
At the instruction of Prime Minister Shinzo Abe, Japan’s Council on Economic and Fiscal Policy has begun to draw up a basic policy on drug pricing, based on which the Japanese government will start to reform the country’s prescription drug pricing system.
Turing Pharmaceuticals CEO Martin Shkreli and his notorious $750 pill have brought new media attention and public outcry to the already contentious issue of drug pricing. But Beth Roberts, partner in the health group at Hogan Lovells, argues that while profiteering stories get the bulk of the attention, the issue of drug pricing is much more complex.