Situational awareness: Congress’ drug pricing push is really going in pharma’s favor
If you asked me in January whether Congress would stick it to pharma this Congress, I’d say the odds were pretty darn good. Now I’m not only doubting Congress will inflict any pain on the industry, I’m starting to think the so-called reforms both Republicans and Democrats are pushing may leave the industry better off than when Congress gaveled in this January.
Hear me out: One of the big ideas Congress is talking about in earnest right now is capping what seniors can pay out of pocket each year at the pharmacy counter through Medicare Part D. (Need more of a policy primer on that? Keep reading, we’ve got a go-to guide this week on where things are in each congressional committee and which policies lawmakers are considering.)
The idea will surely help seniors who have sky-high drug bills, but drug makers have long supported the idea. As PhRMA put it in its official response to the House’s proposal: “We are heartened that the Committees included an out-of-pocket cap in their discussion draft, which would give seniors the same protection that those with commercial coverage now have.” Call me cynical, but any time the industry you’re trying to reform is “heartened” by your proposal, that should probably raise eyebrows ...
Hear me out: One of the big ideas Congress is talking about in earnest right now is capping what seniors can pay out of pocket each year at the pharmacy counter through Medicare Part D. (Need more of a policy primer on that? Keep reading, we’ve got a go-to guide this week on where things are in each congressional committee and which policies lawmakers are considering.)
The idea will surely help seniors who have sky-high drug bills, but drug makers have long supported the idea. As PhRMA put it in its official response to the House’s proposal: “We are heartened that the Committees included an out-of-pocket cap in their discussion draft, which would give seniors the same protection that those with commercial coverage now have.” Call me cynical, but any time the industry you’re trying to reform is “heartened” by your proposal, that should probably raise eyebrows ...
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