Last week, Senator Bernie Sanders, I-Vermont, and Representative Elijah Cummings, D-Maryland, introduced legislation comprising 3 bills to curb the cost of prescription drugs.
Last week, Senator Bernie Sanders, I-Vermont, and Representative Elijah Cummings, D-Maryland, introduced legislation comprising 3 bills to curb the cost of prescription drugs.
The proposals introduced by Sanders and Cummings would allow the US to price prescription drugs at the median price from 5 countries: Canada, Britain, France, Germany, and Japan, where drug prices are usually significantly lower than in the United States. The legislation included the ability to open up generic competition to patent-protected US brand-name drugs that have been deemed “excessively priced.” A medication could achieve this designation if its price in the US is higher than the median price in the 5 aforementioned countries.
“Today I say to President Trump, if you are serious about lowering the cost of prescription drugs in this country, support our legislation and get your Republican colleagues on board,” said Sanders at a Capitol Hill press conference.
The proposal echoes a similar proposition made my HHS Secretary Alex Azar in October 2018, the International Pricing Index, whereby Medicare would more closely align its payment amount for select Part B drugs with prices paid in other nations.
Additionally, the legislation newly introduced by Sanders and Cummings would also allow HHS to negotiate prices in Medicare Part D, as well as allow consumers import lower-priced medications from Canada.
Lobbying group the Pharmaceutical Research and Manufacturers of America (PhRMA) came out against the proposal, stating that it “would wreak havoc on the US healthcare system. They would interfere with patient access to medicine, while also undermining the US intellectual property system, replicating the flawed policies of foreign governments and circumventing the [FDA]’s robust safety standards.”
The administration did not immediately comment on the proposed legislation.
Addressing ever-increasing drug prices in the United States has become a main focus of US politics since early 2018 when the Trump administration began introducing proposals to bring down drug costs. The introduced policy changes have received criticism from both sides of the aisle, with some stakeholders in the pharmaceutical industry alleging that the changes go further than legally allowed, while many Democrats have said the proposals don’t go far enough.
While several pharmaceutical companies temporarily froze prices on certain drugs last year, since the start of 2019 drug manufacturers have raised prices on more than 250 products, though most increases were under 10%.
Eye on Pharma: Henlius, Organon Updates; Meitheal Portfolio Expansion; Celltrion Zymfentra Data
November 5th 2024Henlius and Organon’s pertuzumab biosimilar met phase 3 goals; Meitheal expanded its US biosimilars; Celltrion’s subcutaneous infliximab (Zymfentra) showed monotherapy could be as effective as combination therapy for inflammatory bowel disease.
Biosimilars Policy Roundup for September 2024—Podcast Edition
October 6th 2024On this episode of Not So Different, we discuss the FDA's approval of a new biosimilar for treating retinal conditions, which took place in September 2024 alongside other major industry developments, including ongoing legal disputes and broader trends in market dynamics and regulatory challenges.
Enhancing Adoption of Infused Biosimilars for a Sustainable Future
October 30th 2024An IQVIA report highlights challenges to the sustainability of infused biosimilars in the US, citing rebate walls and reimbursement policies, and proposes key solutions to enhance adoption and benefits for all stakeholders.
Competitive Pricing in Biosimilars: How Adalimumab Could Shape the Industry
Published: October 29th 2024 | Updated: October 29th 2024Sophia Humphreys, PharmD, MHA, BCBBS, of Sutter Health notes that although initial adoption of adalimumab biosimilars remained low in 2023, competitive pricing pressures have already benefited patients and the health care sector.