In his State of the Union address, President Trump called on Congress to “do more” to lower drug costs in the United States.
Already, the U.S. Department of Health and Human Services (HHS) has proposed piloting an International Pricing Index payment model, tying costs for drugs under Medicare Part B to the lower rates paid in European benchmark countries with socialized medicine. They have moved to lower government costs for drug spending by empowering PBMs and middlemen to dramatically expand the use of utilization management tools like “fail first” that deny patients access to needed medicines. And most recently, HHS proposed changes to the drug rebate system with the goal of eliminating perverse incentives to inflate a drug’s list price.
Following a year with a record number of new medicines being approved by the FDA, such reforms introduce significant uncertainty for biotech investors. The session featured below, Policy Outlook—How Could the Trump Administration’s Drug Reimbursement Proposals Affect Medical Innovation?, explores the impact these moves have on biomedical investment and innovation.
Jim Greenwood, BIO’s President and CEO, is joined by the following industry experts for a can’t miss discussion:
- Paul Lammers, MD, President and CEO, Triumvira Immunologics
- Art Pappas, Managing Partner, Pappas Capital
- Susan Peschin, MHS, President and Chief Executive Officer, Alliance for Aging Research
- Peter J. Pitts, President, Center for Medicine in the Public Interest
- Duane Schulthess, Managing Director, Vital Transformation
- Erica Whittaker, PhD, Head of UCB Ventures, UCB Pharma