Pharma Execs Say Senate Drug Pricing Bill Targets Industry, Not The Problem

Industry leaders provided their first public reaction to the new drug pricing bill being debated in the US Senate during second quarter sales and earnings calls on 24 and 25 July. Executives said they are anxiously awaiting more details on what will materialize from ongoing Senate negotiations over the Prescription Drug Pricing Reduction Act of 2019, and that while they have reservations, they support reforms that would improve the affordability of drugs for patients.

The Senate bill, which includes various changes to the way drugs are paid for under Medicare and Medicaid – including restructuring the way Part D drugs are reimbursed and implementing inflation rebates on Part D and Part B drugs – was announced by the Senate Finance Committee on 23 July and passed through committee on 25 July