President Biden signed an Executive Order on Friday, October 14th directing Health and Human Services (HHS) to explore additional actions to lower prescription drug costs. This order is on top of several drug-pricing provisions of the Inflation Reduction Act.
CBSA and our national partners oppose government price controls on prescription drugs. We lobbied against the price setting provisions in Medicare, which could chill investment in next-generation treatments and cures for patients in need.
What is the Executive Order?
According to the White House Communications Team, the Executive Order “includes leveraging the Innovation Center at HHS, which has authority to test new ways of paying for Medicare services.”
Under the Executive Order, HHS has 90 days to submit a formal report outlining plans to lower drug costs and promote access to innovative drug therapies for Medicare beneficiaries using the Innovation Center’s authority. According to the Biden…
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