House Oversight Chair Carolyn Maloney dismissed pharmaceutical industry arguments that the drug price controls the Democrats are pursuing would limit efforts to develop new cures and therapeutics.
Democrats and Republicans on Friday issued dueling reports on the factors driving high prescription drug prices and what should be done, signaling the continued lack of consensus on a key issue heading into the mid-term elections.of drugmaker business practices that details over 270 pages how manufacturers target the U.S. market for price hikes, game the patent system to maintain monopolies and beat back competition from generics.
The Pharmaceutical Research and Manufacturers of America, the industry's Washington trade group, said the report was misleading and didn't address the role insurers and middlemen in the drug supply chain play in pricing. "This is nothing more than a partisan exercise to justify an extreme proposal that will restrict patient access to lifesaving cures and treatments," spokesperson Debra DeShong said in a statement.
JC Scott, the president and chief executive of the Pharmaceutical Care Management Association, a trade group for the companies, said in a statement that any report that focuses only on PBMs "seems to purposefully take a narrow view and is therefore going to miss the mark," adding they are the only entities in the drug supply chain that actually reduces prescription drug costs for patients.
The House-passed version of Democrats’ social spending bill includes language that would require PBMs to disclose certain information to employer-based plans with the goal of negotiate lower prices for drugs, and Democratic leaders including Senate Finance Chair Ron Wyden say they want to do more going forward.
Novo Nordisk did not immediately respond to requests for comment. Sanofi, in a statement, said there is "robust negotiation of prescription medicines," including its most prescribed insulin, Lantus. "Since 2012, the net price of our insulins declined by 53 percent," the company said. Eli Lilly said the average monthly out-of-pocket cost for its insulin has dropped 27 percent to $28.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. House passes oversight bill reining in presidency, unlikely to pass SenateThe Democratic-controlled U.S. House of Representatives on Thursday passed a sweeping government oversight bill aimed at reining in the powers of the presidency, but the measure faces little chance of passing the narrowly-divided Senate.
Read more »
House approves measure that would enhance congressional oversight, reform presidential pardonHouse Democrats pass a bill to deter presidential pardon power and strengthen congressional oversight, but it's not expected to survive in the Senate.
Read more »
House Democrats to introduce resolution to strip Boebert of committee assignmentsReps. Ayanna Pressley, D-Mass., and Cori Bush, D-Mo., introduced a resolution Wednesday to remove Rep. Lauren Boebert, R-Colo., from her committee assignments over anti-Muslim remarks aimed at Rep. Ilhan Omar, D-Minn.
Read more »
There Are No Costume Repeats for Lady Gaga in 'House of Gucci'Costume designer Janty Yates breaks down the looks in the film, from the ski outfits to the wedding dress to Jared Leto's outrageous suits.
Read more »
White House braces for latest US inflation surgeWith the government set to release data expected to show US prices rising even higher, President Joe Biden is attempting to downplay the reading and highlight recent improvements not captured by the report.
Read more »
House of Gucci Would Not Exist Without Ridley Scott’s Wife, Giannina FacioThe producer talks enlisting her husband to direct her passion project and spending 24 years bringing it to the screen.
Read more »