WASHINGTON—The U.S. government will soon begin hiring experts and collecting the data needed to launch direct negotiations over prescription drug prices for older and disabled people, a top Biden administration official told Reuters. President Joe Biden last week signed into law the Inflation Reduction Act, introducing new policies to tackle climate change, taxes and the…
Search results for: prescription drug prices
Florida Law Puts Drug Pricing by Pharmacy Benefit Managers Under a Microscope Once Again
As of July 1, a Florida bill increases oversight of pharmacy benefit managers and offers some protection for pharmacies. However, the legislation has limited effects on patients and providers, highlighting the need for additional reform.
What’s in the New Biden Plan to Reduce U.S. Drug Prices?
WASHINGTON (Reuters)—U.S. President Joe Biden and his fellow Democrats promised voters sweeping drug price reform in their signature social spending bill but agreed to move ahead with a far less ambitious proposal after facing opposition in Congress. The plan could still fail as hurdles remain to approving the broader spending package, known as “Build Back…
Colchicine: An Ancient Drug with Modern Uses
Discovered more than 3,000 years ago, colchicine is one of the oldest drugs still in use today. Like most old remedies, colchicine is a chemical substance found in many plants, most notably in colchicum autumnale, known as wild saffron or autumn crocus. It was mentioned in the oldest Egyptian medical text, Ebers Papyrus (circa 1550…
Executive Order Targets Prescription Drugs & Health Insurance to Promote Competition
On July 9, U.S. President Joe Biden issued an Executive Order designed to promote competition in the U.S. economy. The order includes 72 initiatives related to various aspects of the economy, including prescription drugs and health insurance.1 For prescription drugs, Americans pay more than 2.5 times as much for the same prescription drugs as patients…
High Cost of Specialty Drugs Demands Action
Amid rising drug costs and the growing influence of pharmacy benefit managers on patient care decisions, physicians are increasingly called upon to advocate for affordable, evidence-based treatments for their patients.
RheumPAC Donors Discuss Healthcare Legislation, Drug Pricing with Rep. Lloyd Doggett
At a virtual event with the chair of the Ways & Means Subcommittee on Health, RheumPAC donors were able to share concerns and recommendations about drug pricing policies and how they affect providers and patients.
Novartis, Merck & Allergan Join Those Raising U.S. Drug Prices for 2020
NEW YORK (Reuters)—Novartis AG, Merck & Co Inc. and Allergan Plc. were among companies that raised U.S. prices on more than 100 prescription medicines on Jan. 4, bringing the tally to 445 drugs that will cost more in 2020, according to data analyzed by healthcare research firm 3 Axis Advisors. That is above the average…
Trump Says He Will Allow States to Import Prescription Drugs to Lower Costs
WASHINGTON (Reuters)—U.S. President Donald Trump said on Friday, Nov. 22, he will soon release a plan to let Florida and other states import prescription medicines to combat high drug prices. He blasted the Democrat-led U.S. House of Representatives for not going far enough in a drug-pricing bill. “We will soon be putting more options on…
White House Preparing Order that Would Cut Drug Prices for Medicare
(Reuters)—U.S. President Donald Trump is considering a sweeping executive order that would cut prices on virtually all branded prescription drugs sold to Medicare and other government programs, according to two industry sources who had discussions with the White House. The order under discussion would be much broader than the Administration’s previously disclosed proposal to lower…
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