President Trump’s plan to lower drug prices could hurt more later

They pointed to future possibilities listed inside proposal which could hurt pharmacy benefit managers, or PBMs, which negotiate discounts with manufacturers. They included restricting the use of these rebates, revisiting whether statutes which currently allow the practice in addition to considering fiduciary status for the firms. which designation would likely require companies to work on behalf of patients’ best interest.

“At which point which’s still a threat, in addition to currently the question can be whether the administration follows through or not on actions which could pose bigger risks to the drug channel,” Muken in addition to Newshel said.

In his speech, Trump railed against middlemen for becoming “very, very rich,” saying they “won’t be so rich anymore” in addition to the administration can be “very much eliminating them.”

In a press briefing following the speech, Health in addition to Human Services Secretary Alex Azar said the administration can be calling into question the entire system of rebates as the method of negotiating discounts inside pharmacy channel.

“Because right currently, every incentive can be for the drug company to have a very high list cost in addition to to negotiate list cost down, often in a very nontransparent way,” Azar said.

The Pharmaceutical Care Management Association, which represents the PBM industry, said getting rid of rebates would likely leave patients in addition to payers “at the mercy of drug maker pricing strategies.”

“PBMs have long encouraged manufacturers to offer payers alternative ways to reduce net costs,” the group said in a statement. “Simply put, the easiest way to lower costs would likely be for drug companies to lower their prices.”

Leave a Reply

Your email address will not be published. Required fields are marked *

*

three × one =