Former President Trump’s plan to peg the price of some drugs to those paid in other developed nations was always controversial. Not long after Trump unveiled an executive order supporting the idea on Sept. 13, 2020, organizations, including PhRMA and Regeneron, filed lawsuits to block the rule. Several courts agreed that the policy, which CMS codified…
Pharma industry and Biden administration could be on a drug-pricing collision course
Prominent pharmaceutical companies including Pfizer (NYSE:PFE), Sanofi (NYSE:SNY), GlaxoSmithKline (NYSE:GSK) and Teva (NYSE: TEVA) intend to raise U.S. prices of more than 300 drugs starting Jan. 1, according to Reuters. But President-elect Joe Biden has vowed to slash drug prices. “Too many Americans cannot afford their prescription drugs, and prescription drug corporations are profiteering off of the pocketbooks of sick individuals,” he wrote in a healthcare…
Trump’s ‘most-favored nation’ drug-pricing plan hits a snag
A federal judge in Maryland has temporarily blocked a Trump executive order that tied Medicare reimbursement for several drugs to lower rates in other countries. The executive order was facing a flurry of lawsuits. U.S. District Judge Catherine C. Blake sided with the plaintiffs’ argument that the Department of Health and Human Services (HHS) did not…
Trump’s ‘most-favored nation’ drug pricing scheme faces lawsuits
Almost immediately after President Trump indicated he planned on tying Medicare reimbursement for dozens of drugs to lower rates in other countries, it seemed certain that legal action was inevitable. Now, Trump’s executive orders related to drug pricing are attracting a growing number of lawsuits. Earlier this month, the Pharmaceutical Research and Manufacturers of America (PhRMA),…