At the event, Biden and Sanders discussed issues including patent thickets, the cost of asthma inhalers and insulin, and proposals to expand the Medicare price negotiation provision of the 2022 Inflation Reduction Act.
Tag Archive for: Inflation Reduction Act
Recent U.S. policy changes and the introduction of the Inflation Reduction Act (IRA) have injected a sense of urgency within pharma companies for greater cross functional cooperation. The traditional route that drugs take through the development process from bench to patient needs a radical rethink. Any pressure on how drugs are assessed through the AA route will further ramp up the urgency within pharma to align internally.
A new analysis from the Congressional Budget Office predicts that Novo Nordisk’s semaglutide will likely be subjected to Medicare’s Drug Price Negotiation Program under the Inflation Reduction Act.
The U.S. Court of Appeals for the Eighth Circuit on Tuesday ruled against industry group Pharmaceutical Research and Manufacturers of America, upholding an Arkansas law that enables healthcare providers to dispense drugs—obtained at a discounted price via a federal program—through certain pharmacies. The ruling would also allow Arkansas to prohibit drugmakers from limiting the availability of their products on contract pharmacies and could potentially embolden other states to enact similar laws.
President Joe Biden has proposed expansions to the Inflation Reduction Act, including an increase in the annual number of prescription drugs that would be subject to price negotiations to 50, up from 20.
A federal judge in New Jersey has ruled that four major pharmaceutical companies can present their oral arguments against the Inflation Reduction Act’s drug price negotiation provisions in one hearing, according to reports.
In 2024, the industry must acknowledge the interconnected impact of the Inflation Reduction Act (IRA), growing AI and technology usage, and evolving smart data, as these factors create a ripple effect. How market access responds to these effects will impact sales and marketing. Effectively addressing these impacts lies at the heart of industry reform.
Merger and acquisition activity is on the rise after the biopharma industry moved on from the COVID-19 pandemic, while the role of AI in drug development is reaching new levels.
Jesse Mendelsohn, senior VP at Model N, shares two key predictions for pharma this year.
The Biden administration is sending drugmakers opening offers for the U.S. Medicare program’s first ever price negotiations on Thursday, the White House said in a statement.
