Medical Economics September 21, 2023
Democrats say their objections are the bidding of big pharma.
With Medicare drug price negotiations, the federal government is making an offer that pharmaceutical companies can’t refuse, but that harms patient health, one legislator said.
But big pharma rakes in billions of dollars to spend on executives, shareholders, and advertising, as millions of Americans struggle to afford needed medications, another lawmaker said.
The drug price policies of the federal Inflation Reduction Act (IRA) were the subject of a Sept. 20 hearing of the Oversight and Investigations Subcommittee of the U.S. House of Representatives’ Energy & Commerce Committee. The hearing, “At What Cost: Oversight of How the IRA’s Price Setting Scheme Means Fewer Cures for Patients,” included testimony from four advocates...
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