Posted by Michael Wonder on 10 Apr 2018
A rare loss for U.S. pharma lobby will cost the industry billions
6 April 2018 - ‘They’re in a defensive position’ as Trump ponders drug plan.
Deep in a budget deal Congress passed earlier this year -- just 118 words in Section 53116, a little before passages on prison reporting data and payment yields for seed cotton -- was a hit to pharmaceutical companies that will cost them billions, and could signal more losses to come.
Despite an intense lobbying push, lawmakers changed a Medicare rule, putting manufacturers on the hook for more of seniors’ prescription costs. The companies will have to offer a much more generous discount to beneficiaries who fall into the so-called donut hole coverage gap, marking down retail costs by 70% instead of the current 50%.
