Key Element in Administration’s Plan to Lower Drug Prices Is Opposed by Big Pharma

In what shouldn’t come as a surprise to anyone, Big Pharma has come out against tying certain drug prices paid for by Medicare to an international average for the drug. The proposal is one of the elements of the administration’s “Blueprint To Lower Drug Prices” program.

In interviews, Pharma executives warned that implementing the policy, which would lower the price of the drugs for patients in the US, would be a “dangerous proposition” and a “slippery slope.”

“I don’t believe that the proposed rule in reference pricing to price-controlled markets as a way of setting prices in the U.S. is good for innovation, patients or our industrial base,” Read told CNBC in a telephone interview Tuesday.

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