InvestorsHub Logo
Post# of 252501
Next 10
Followers 832
Posts 119983
Boards Moderated 17
Alias Born 09/05/2002

Re: dangerM post# 221635

Friday, 10/26/2018 2:55:09 PM

Friday, October 26, 2018 2:55:09 PM

Post# of 252501
BIO, PhRMA respond—negatively—to Medicare-Part-B proposal:

https://www.biocentury.com/bc-extra/politics-policy/2018-10-25/trump-administration-peg-part-b-payments-international-pricing

BIO President and CEO Jim Greenwood said in a statement, “Adopting foreign price controls on American innovation puts America’s patients last and diminishes their hope for a better future. Contrary to the president’s repeated promises to end ‘foreign free-loading,’ this proposal embraces it and exacerbates its harmful effects.”

Greenwood said BIO “urged” the Trump administration to work with the trade group on market-based reforms to promote competition and lower drug costs, “without harming our nation’s innovative ecosystem that leads the world in discovering new cures and treatments. It is deeply unfortunate the Trump administration has proposed pursuing a radically different approach.”

In a statement, PhRMA President and CEO Stephen Ubl said the U.S.'s competitive marketplace "provides patients with access to innovative medicines far earlier than in countries with price controls, and it’s why we lead the world in drug discovery and development." Because of both the proposed price controls and the limits on provider reimbursement, the changes would jeopardize access to drugs for Medicare patients, he added.


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.