HMP Global December 18, 2024
The 118th Congress is wrapping up with a whimper rather than a bang when it comes to health care legislation, particularly compared to its predecessor’s transformative impact on pharmaceutical policy. As we reflect on these past 4 years, the contrast between legislative accomplishments couldn’t be starker, especially for pharmaceutical manufacturers navigating an increasingly complex regulatory landscape.
The 117th’s Landmark Achievement
The 117th Congress fundamentally altered the pharmaceutical landscape through the Inflation Reduction Act (IRA), marking a historic shift in federal authority over drug pricing. After decades of pharmaceutical industry opposition and failed legislative attempts, Democrats successfully leveraged their slim majority to implement what many consider the most significant drug pricing reform since Medicare Part D’s creation.
The IRA’s drug pricing...
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