The Health 202: One GOP senator is urging the drug industry to make good on lowering prices
allowing drug companies to offer discounted prices directly to consumers, aiming to stop the controversial rebate practice. But those rules would apply only to Medicare drug plans and Medicaid managed-care plans.
During last week’s testimony by drug executives before the Senate Finance Committee, Chairman Chuck Grassley asked whether their companies would lower prices if the Trump rule applying to public-sector plans is ultimately implemented. they would be willing to lower prices if rebates were banned in the private sector, too.
During the hearing, Bristol-Myers Squibb chief executive Giovanni Caforio said he shared the same position. After a follow-up question, Bristol-Myers Squibb said it remains “committed to working with Congress and the Administration on reforming the rebate system with a focus on what is best for patients.”After the hearing, Sen.
"[T]he legislation appears to do absolutely nothing to address the root cause of the problem: high list prices that only the drug manufacturers have the power to set," J.C. Scott, president of the Pharmaceutical Care Management Association, told The Health 202 in a statement."Despite drug manufacturers’ rhetoric, their pricing strategies are unrelated to the rebates they negotiate with PBMs.
“This bill doesn’t outlaw PBMs. It doesn’t even outlaw rebates. What it’s going to do is shed light on the process so they’re not going to be able to get by with the argument that there’s room for a whole other layer of a middleman,” Braun said. “You don’t need it."AHH, OOF and OUCH
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