Biden’s Prescription Drug Price Plan Addresses Innovation and Omits Key Topics

President Biden’s drug pricing plan was published on September 9^th. It includes key policy reforms such as allowing Medicare to negotiate drug prices and limiting drug price increases. However, critics have drawn attention to omitted topics, such as how pricing fairness and value will be assessed.

Associate Professor of Law at Washington University Rachel Sachs remarks, “As with the Trump Administration’s 2018 blueprint, the question at this stage is what proposals the Biden administration will be able to move forward,” adding, “President Biden has been clear in his explicit support for legislative efforts on drug pricing reform, unlike President Trump, and it is possible that action will be forthcoming on that front. If not, policy action will continue to be based around administrative efforts, where plan lays out a more capacious view.” Read more here.

(Source: Rachel Sachs, Health Affairs, 9/13/21; Joshua Cohen, Forbes, 9/12/21)