Welcome to the Week in Review.
1. Drug Pricing Remains In Dems’ Latest Reconciliation Deal
- The historic drug pricing reforms are included as a key feature of the new reconciliation package announced by Majority Leader Schumer and Senator Manchin this week. All eyes are on Dems as they work to pass the new package, which Speaker Pelosi signaled support for in the House. President Biden said he is prepared to sign the package when it reaches his desk and called the reforms “a godsend.” The Senate Democratic Policy and Communications Committee held a press conference featuring Chairwoman Stabenow, Chairman Wyden, and Senator Klobuchar rallying around the drug pricing reforms, which would deliver “significant relief” to patients with expensive drugs. “Next week we are going to come together and get this done,” declared Chairwoman Stabenow. Bloomberg’s Editorial Board summarized it well calling the drug price provisions “a momentous achievement.” (P4ADNow, WaPo, Bloomberg)
2. Big Pharma Back With Big Lies
- Kaiser Health News and Politifact rated a new ad from PhRMA-funded group, American Commitment, attacking the drug price provisions under consideration in the Senate as false. The ad’s claims that the provisions will divert billions of dollars away from Medicare are simply untrue — instead, the plan would save money for both Medicare and patients. Big Pharma is pumping millions into campaigns to oppose drug pricing reforms as Congress moves forward with plans to rein in the industry’s unfettered pricing power and lower drug prices for patients. The time for change is now. (KHN)
3. Savings Of Billions For Millions
- Americans, patients, doctors, and voters alike, know exactly how much their lives will change when Congress passes the comprehensive drug price reforms in the Inflation Reduction Act. Millions of patients will be delivered relief thanks to the $2,000 out-of-pocket cap for Medicare Part D beneficiaries, expanded low-income subsidies, curbs to drug corporation price gouging, and, of course, Medicare’s newly granted ability to negotiate directly for lower drug prices. “For the first time, if drug manufacturers raise their prices faster than inflation, they will be subject to a steep penalty. This is enormously important, as rising prices are a kitchen table concern,” explains P4ADNow’s Sarah Kaminer Bourland. A new poll from Data For Progress found that voters are more likely to support a candidate for U.S. Congress if they support plans to lower drug prices. “Passing this bill will take me out of the danger zone and I could go back on the Copaxone at an affordable price, and there are so many of us out here,” shared MS patient Therese Ball from Indiana about the medication she needs to manage her condition. Congress must get these reforms across the finish line. (Healio, KFF, Spectrum New 1, Data for Progress)
Have a great weekend, everyone!