The Biden Administration And Biopharma: It’s Been A Tough Three Years

President Biden has made drug pricing reform one of his signature initiatives and three years into his term, a number of significant programs are being implemented, mostly under the auspices of the Inflation Reduction Act of 2022. Drug pricing reform policies enacted and in the process of implementation, policies proposed and not yet implemented and industry efforts to stop one of the most impactful of the policies – Medicare price negotiation – are displayed below.

The Administration most recently advanced a policy established by the Trump Administration that would allow US importation of cheaper drugs from Canada, with the US Food and Drug Administration’s approval of a petition from the state of Florida seeking clearance to do so on 5 January