.jpg)
STAT+: Pharmalittle: We’re reading about Medicare negotiations, U.K. drug rebates rising, and more
In today's Pharmalittle roundup, we're reading about Medicare negotiations, U.K. drug rebates rising, and more.
Good morning, everyone, and welcome to another working week. We hope the weekend respite was refreshing and reassuring. After all, that oh-so-familiar routine of phone calls, online meetings, and lengthening to-do lists has returned with a vengeance. Such are the signs of progress, so we hope. In any event, we are also indulging in yet another part of our routine — the ritual cup of stimulation. Our choice today is maple bourbon. Yes, this is a real thing. Please feel free to join us. Meanwhile, here are some tidbits for you to peruse as you begin your own challenging journey. Good luck, today, and do keep in touch …
All drug manufacturers whose medicines are part of the second round of Medicare price talks have agreed to participate in the negotiation process, Reuters notes. The negotiations were established as part of the Inflation Reduction Act in 2022. During the second cycle of negotiations, the U.S. government said it plans to aim for “greater transparency” in Medicare drug price negotiations under Trump, following criticism from the pharmaceutical industry for the Biden-era law. The Centers for Medicare & Medicaid Services said negotiations “will include robust engagement with drug companies and the public.” The agency will send an initial offer for each drug with its maximum fair price proposal no later than June 1, and drugmakers will have 30 days to either accept or provide a counteroffer. CMS plans to invite a drugmaker for up to two additional negotiations this summer and fall before the period ends on Nov. 1, in case a deal is not reached after the initial meeting.
A new breed of pharmacy benefit managers is pushing an unusual cost-saving strategy that lets their employer clients tap a federal program meant for hospitals that serve the poor, The Wall Street Journal tells us. The government program, known as 340B, allows hospitals that care for many uninsured and low-income patients to purchase outpatient medicines at steep discounts. Hospitals can pocket the savings, but they can also choose to pass the discounts on to patients at their pharmacies. The companies are selling pharmacy benefit plans that save employers money by funneling workers to those 340B hospital pharmacies instead of traditional drugstores. The workers get the discounted 340B price under these plans. Hospitals participate because it expands their customer base and they receive fees for dispensing prescriptions. Separately, one pharmacy benefit manger, LucyRx, is boosting reimbursement to independent pharmacies located in “pharmacy deserts,” which are areas with limited access to pharmacy services, in hopes of propping up these businesses.
