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Search results for: drug pricing

FDA’s Gottlieb Blames Industry ‘Kabuki Drug Pricing’ for High Costs

Yasmeen Abutaleb  |  

WASHINGTON (Reuters)—U.S. Food and Drug Administration chief, Scott Gottlieb, criticized pharmacy benefit managers, health insurers and drugmakers on Wednesday for “Kabuki drug-pricing constructs” that profit the industry at the expense of consumers. The comments, made at a conference organized by a leading U.S. health insurer lobbying group, stoked speculation over what steps the administration of…

Legislative Successes in 2017: Rheumatologists lead the push in Congress for access to care, research funding, transparency in drug pricing

Larry Beresford  |  

SAN DIEGO—The 2017 ACR/ARHP Annual Meeting, Nov. 3–8, presented opportunities to highlight its 2017 legislative advocacy victories, some of which were resolved just weeks before the conference began, as well as issues that are still outstanding. In the session, Legislative & Regulatory Update 2017, Angus Worthing, MD, chair of the ACR’s Government Advocacy Committee and…

Health Insurer Anthem Sues Express Scripts over Drug Pricing

Reuters Staff  |  

(Reuters)—Health insurer Anthem Inc. said it had sued pharmacy benefit manager Express Scripts Holding Co. to recover damages from drug pricing it believes was too high. The lawsuit, filed on Monday in U.S. District Court for the Southern District of New York, is the latest development in a month’s long dispute over Anthem’s contract with…

Drug Makers Met with Trump to Argue against Senate Pricing Bill

Michael Erman, Carl O'Donnell, Caroline Humer and Roberta Rampton  |  

(Reuters)—The main pharmaceutical industry lobbying group said on Thursday it and some drugmakers met with President Donald Trump to voice opposition to a bipartisan U.S. Senate bill that aims to lower prescription drug prices. The White House, which has said it backs the legislation, has promised to bring down drug prices for U.S. consumers, an…

U.S. Senators Tell Drug Company Execs Pricing Is Morally Repugnant

Yasmeen Abutaleb & Michael Erman  |  

WASHINGTON/NEW YORK (Reuters)—U.S. Senators called drug pricing practices “morally repugnant” and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at the start of a Senate hearing on the rising costs of prescription medicines. Executives from Abbvie Inc., AstraZeneca PLC., Sanofi SA, Pfizer…

Sun Pharma Gets U.S. Subpoena over Generic Drugs Pricing

Reuters Staff  |  

MUMBAI (Reuters)—The U.S. Department of Justice (DOJ) has subpoenaed India’s largest drugmaker Sun Pharmaceutical Industries Ltd. seeking information about the pricing and marketing of the generic drugs it sells in the U.S., the company said on Saturday. The DOJ’s antitrust division has also asked Sun Pharma’s U.S. unit for documents related to employee and corporate records…

Executive Order Ties U.S. Drug Prices to Lowest Global Rates

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In May, the Trump administration published an executive order requiring drug companies to bring prices in line with those paid by other developed nations, otherwise known as Most Favored Nation (MFN) pricing. Although the June 11 deadline has come and gone, no details have been released as to whether drug companies have opted to negotiate or if the government will implement any enforcement action.

How the U.S. Will Set Up New Medicare Drug Price Talks

Ahmed Aboulenein  |  

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…

What’s in the New Biden Plan to Reduce U.S. Drug Prices?

Ahmed Aboulenein  |  

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…