• Tue. May 28th, 2024

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J&J, Merck and Bristol Myers Squibb CEOs Will Testify at Senate Listening to on Drug Costs – World Web News Blog


Evaluating drug costs in america with these in different international locations will be difficult as a result of the well being care methods are so completely different. In america, negotiations over drug costs are fragmented throughout tens of 1000’s of well being plans and employers, whereas European international locations depend on a centralized negotiator. And whereas many pharmaceuticals will be purchased for a lot much less at European pharmacies, European international locations don’t essentially provide broad insurance coverage protection for these medication for his or her residents.

Sarah Ryan, a spokeswoman for the Pharmaceutical Analysis and Producers of America, or PhRMA, the drug trade’s essential lobbying group, stated in an announcement that new medicines arrived quicker in america than in another nation. She blamed middlemen often known as pharmacy profit managers for prime out-of-pocket prices for People.

The three executives set to testify on Thursday are the newest to look earlier than Mr. Sanders since he grew to become the well being committee’s chairman early final yr. In March, Moderna’s chief govt testified in regards to the value of his firm’s Covid-19 vaccine, and the chief executives of three main insulin producers — Eli Lilly, Novo Nordisk and Sanofi — appeared in entrance of the committee at a listening to in Could.

Michelle Mello, a well being coverage professional at Stanford Legislation Faculty, stated that lawmakers may use the listening to to construct momentum round additional legislative motion on drug pricing, corresponding to increasing the Medicare value negotiation program to embody extra medication.

“We may very well be doing a lot extra with this instrument,” she stated.



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