BioPharma Dive March 15, 2023
Dive Brief:
- The Biden administration on Wednesday announced the first set of prescription drugs to face penalties for their pharmaceutical makers raising prices within Medicare faster than the rate of inflation.
- The list of 27 drugs includes AbbVie’s top-selling inflammatory disease drug Humira as well as Seagen’s bladder cancer drug Padcev and Gilead’s cancer cell therapies Yescarta and Tecartus. Five Pfizer drugs are on the list — the most of any drugmaker — but they are older, lower revenue products.
- Drugmakers won’t have to pay the rebates until 2025, White House officials said. The list is being published five months before the first drugs subject to Medicare price negotiations will be announced.
Dive Insight:
The rebates...
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