The Wall Street Journal (9/9, Armour, Subscription Publication) reports the Biden Administration on Thursday unveiled a plan aimed at cutting prescription drug prices by empowering the federal government to negotiate costs paid by Medicare and pass those potentially reduced costs to the private sector, among other proposals.
CNN (9/9, Luhby) reports HHS’ “29-page plan also backs Congress establishing a cap on what Medicare beneficiaries have to pay out-of-pocket for medication each year and devising efforts to slow price increases over time. And it calls for accelerating the development and use of generic and biosimilar drugs, including shortening manufacturers’ exclusivity period and increasing the prescribing of biosimilar medications by doctors.”
Related Links:
— “Biden Administration Unveils Plan to Cut Prescription-Drug Prices ” Stephanie Armour, The Wall Street Journal, September 9, 2021