Katie Lapins Trujillo’s Post

Big, big news for pharmaceutical manufacturers!

The Biden-Harris Administration has announced new, reduced prices for the first ten drugs selected for Medicare price negotiation in the United States. This historic move is set to lower healthcare costs for millions of Americans, making life-saving medications more accessible. As a company deeply involved in pharmaceutical development and innovation, CMIC Group recognizes the importance of patient access to essential treatments. 10 Drugs for Medicare Price Negotiation: Januvia NovoLog Farxiga Enbrel Jardiance Stelara Xarelto Eliquis Entresto Imburvica Get all the information on this breaking news update: https://lnkd.in/dZx3BAwc #HealthcareInnovation #DrugDevelopment #Medicare #AffordableHealthcare #CMIC 

Medicare could have saved a staggering $6 billion last year if CMS had implemented their proposed negotiated drug prices! CMS’s plan to negotiate directly with pharmaceutical companies promises to not only reduce prescription drug costs but also enhance Medicare’s financial sustainability. These potential savings underscore how transformative these reforms could be in making healthcare more affordable and accessible for millions. It’s an exciting time for healthcare innovation and cost management! #Healthcare #Medicare #DrugPricing #CostSavings #PolicyInnovation

Implications of IRA, GLP-1s, CGTs Are Top of Mind for Payers: The pharmaceutical industry continues to bring innovative therapies to market, but payers are continuing to grapple with how they can manage their financial impact. And while the Inflation Reduction Act (IRA) may bring some relief to Medicare benefic... Read More #marketaccess #lifesciences #pbm

The 340B Drug Discount Program has faced several challenges due to its growth and confusion with the Medicaid Drug Rebate Program (MDRP). Additionally, a recent court ruling might expand the definition of a “patient” under the 340B program, increasing claims and duplicate discounts. As Dary Todd emphasizes in this piece, improving transparency, ensuring equal access to data, and resolving disputes efficiently can help restore trust and cooperation. By enhancing these aspects, we can ensure low-cost pharmaceuticals reach the patients who need them. #Pharmacy #Healthcare #340B

If you work in Life Sciences compliance, this blog post is incredibly helpful to understand more about how drugs are classified and how rebates are calculated.

Medicare reveals results of drug price negotiations 💉 💊 The release of Medicare’s first drug price negotiation list is a groundbreaking step toward tackling high prescription costs, directly impacting the lives of millions of seniors. For the first time, Medicare is leveraging its market power to negotiate prices for some of the most costly medications. While this move is seen as a victory for patients, it has stirred significant concern among pharmaceutical companies and insurers who foresee potential revenue declines and market instability. The pharmaceutical industry argues that these negotiations may stifle innovation, reducing incentives for developing new drugs. However, advocates argue that the need to lower drug costs for patients outweighs these concerns, especially as many seniors struggle with the financial burden of essential medications. The broader implications of these negotiations are significant. If successful, this could set a precedent for more extensive pricing controls and healthcare reforms in the future, potentially changing how drugs are priced across the industry. As this unfolds, all eyes are on the outcome, which could reshape the balance between affordable healthcare and the financial interests of the pharmaceutical industry. Source: https://lnkd.in/dp_vaY7m #MedicareNegotiations #HealthcareReform #DrugPricing #AffordableHealthcare #PharmaceuticalIndustry #Medicare #HealthPolicy #SeniorCare #PrescriptionCosts

Today, Centers for Medicare and Medicaid Services (CMS) announced the results of drug price negotiations made possible by the Inflation Reduction Act (IRA). While these changes won’t go into effect until 2026, we can see the gravity of savings that is expected through the direct negotiations between CMS and pharmaceutical companies. The IRA took a big step in trying to rein in drug costs, but we have much more to do. At Blue Shield of California, I’m proud to be a part of innovative approaches to lowering prescription drug costs for our members. Our Pharmacy Care Reimagined efforts aim to bring transparency to this intricate pharmacy supply chain, all with the goal of bringing our members safe, and affordable access to medications. https://lnkd.in/e4tNKhhy #DrugCost #Transparency #Pharmacy #Medicare

Johnson & Johnson has decided not to implement controversial changes to how it offers drug discounts to hospitals under the 340B program, after the Health Resources and Services Administration threatened the pharma with sanctions. J&J last month proposed sweeping changes to how it would offer drug discounts under the federal 340B program. Instead of offering the price cuts upfront, the pharma intended to first require hospitals and other beneficiaries to purchase the covered products—the anti-inflammatory therapy Stelara and the anticoagulant Xarelto—at full price. Rebates would then be provided later, subject to J&J’s validation. The proposal was supposed to take effect on Oct. 15. However, J&J on Monday informed the Health Resources and Services Administration (HRSA) that it was not going forward with the plan. #biotech #biopharma #pharma #340B #drugpricing #HRSA

The #biopharmaceutical industry reports spends hundreds of billions of dollars each year on R&D and large pharmaceutical manufacturers expense a greater fraction of their reveue on R&D than companies in other sectors*, something that PhRMA and other industry advocates are always eager to tell the public and policy makers. Some of the largest companies also share details of their R&D spending with Tufts Center for the Study of Drug Development, whose estimates of average drug development costs have long been recognized as the gold standard. If these data are correct, it is not clear why the industry is so steadfastly opposed to transparancy regarding the cost of R&D leading to FDA approval of specific drugs or secondary indications. Recognizing that secrecy is often a reflex in business, this would seem to represent an opportunity for the industry to set the record straight rather than a threat. * Check out the "EU Industrial R&D Investment Scoreboard data on R&D spending", which lists the 2,500 companies with the highest R&D spending each year https://lnkd.in/e-F9-RWQ. Center for Integration of Science and Industry at Bentley University European Commission Centers for Medicare & Medicaid Services #drugprice, #drugdevelopment, #fairpricing, #negotiation, #medicare