State Biotech Associations Warn Part D Redesign Puts New Treatments for Patients at Risk
In a letter to Chairman Grassley (R-IA) and Ranking Member Wyden (D-OR), the leaders of the Senate Finance Committee, state biotech associations warn that the Committee’s proposed redesign of Medicare Part D puts new, innovative treatments for patients at risk.
“For many small, innovative companies, the Medicare Part D redesign policy passed by the Senate Finance committee in July represents a highly concerning shift in liability to those companies investing in the medical areas of highest unmet need. Specifically, the 20% manufacturer liability in the catastrophic phase of the restructured benefit could have a chilling effect on the innovation of specialty medicines and runs contrary to the many actions that Congress has taken to incentivize the development of breakthrough therapies. In short, patients still waiting for therapies and cures may find themselves unnecessarily waiting far longer, if not indefinitely,” the letter states.
Read the full letter below.
State Biotech Associations from throughout the country sent a letter to Senators Chuck Grassley and Ron Wyden to warn against the Senate Finance Committee's actions on Medicare Part D.