Pharma is Scrambling to Respond to Upcoming Medicare Drug Pricing Negotiations

With Medicare drug price negotiations, pharma is looking for a move to either delay or block the process and prepare for it in the meantime. Merck and the US Chamber of Commerce filed suit against the Centers for Medicare and Medicaid Services (CMS) earlier this month. Others, including the industry group PhRMA, have spelled out potential consequences of the negotiations.

According to Christopher Newman, “In particular, PhRMA and its pharmaceutical allies have claimed the law will shift investment away from pills and other small molecule drugs due to those products’ shorter nine-year exemption from price negotiation. Ubl said this is already drawing the attention of major cancer centers, patient groups and lawmakers on both sides of the aisle.”

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(Source: Biopharma Dive, June 15^th, 2023)