Congress gets something done on drug pricing!
In other drug pricing news, the Senate quietly passed a drug pricing bill expected to save the government $3.1 billion over 10 years. The legislation, introduced by Sens. Maggie Hassan (D-N.H.) and Bill Cassidy (R-La.) would change the way drug makers calculate the rebates they owe to Medicaid when they have a copycat version of their own drug — known as an authorized generic — on the market. It’s not a sexy issue, but it likely impacts a broad swath of drug makers, since there are more than 1100 authorized generics currently on the market.
The measure was passed Thursday as part of a stopgap funding measure to keep the government open through Nov. 21. You’ve gotta admire Congress’ ability to get something done when they want to go home for recess and there’s a funding deadline looming. The Cassidy-Hassan bill is a perfect example: This change was included in both President Obama and President Trump’s annual budget requests, and has been supported by everyone from the Congressional Medicaid advisers to the HHS Office of Inspector General, and yet the idea languished for practically a decade ... until, of course, Congress needed to come up with a few billion dollars to keep the government open.
The measure was passed Thursday as part of a stopgap funding measure to keep the government open through Nov. 21. You’ve gotta admire Congress’ ability to get something done when they want to go home for recess and there’s a funding deadline looming. The Cassidy-Hassan bill is a perfect example: This change was included in both President Obama and President Trump’s annual budget requests, and has been supported by everyone from the Congressional Medicaid advisers to the HHS Office of Inspector General, and yet the idea languished for practically a decade ... until, of course, Congress needed to come up with a few billion dollars to keep the government open.
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