Biden’s Prescription Drug Pricing Approach Pushes for Value-Based Pricing

President Joe Biden’s plan for lowering drug prices includes tying a drug’s price to its therapeutic value, according to recent speculation. The details of a prescription drug plan, including legislative support for Medicare negotiation, remain unclear and Democrats are expected to clash amongst themselves.

“Biden said Medicare negotiators should be provided a framework for determining “fair” prices — compared to industry’s emphasis on drug “value.” That’s a hint that the White House wants an aggressive approach to controlling drug prices, a policy researcher monitoring the debate said.” Read more here.

(Source: John Wilkerson, Inside Health Policy, 8/16/21)