Fierce Pharma August 5, 2024
Established under the Public Health Service Act in 1992, the 340B drug pricing program has a critical goal: improve access to medicines for low-income patients at qualifying hospitals and clinics. Through the program, biopharmaceutical manufacturers provide tens of billions of dollars in discounts on outpatient medicines with the expectation that the qualifying hospitals and clinics would use the savings to ensure vulnerable patients have access to needed medicines.
But since its founding, the 340B program has become less about patients and more about increasing profits for large hospitals, pharmacies and pharmacy benefit managers (PBMs).
Elizabeth Carpenter, Executive Vice President of Policy and Research at the Pharmaceutical Research and Manufacturers of America (PhRMA), shares the reason for this egregious abuse...
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