COVID is going to take priority over drug pricing as a policy focus regardless of the outcome of the US election outcome. However, the COVID-19 pandemic does offer pharma an opportunity for partnerships with payers on health outcomes. ICER President Steve Pearson believes that there will likely be action on drug pricing soon. According to Pearson, “The basic driving force behind drug pricing reform is only going to get greater as the economy starts to really grapple with the drop in employer profits next year and the cycle of trying to design, at least in the private insurance market, health insurance benefits that they can afford. It’s going to put even more pressure on a growth area, which is pharmaceutical spending.” Read more here.
(Source: Cathy Kelly; Pink Sheet; 11/5/20)