WASHINGTON — The Biotechnology Innovation Organization filed a lawsuit Friday to block implementation of President Trump’s new policy to lower drug prices, the organization tells STAT.
The “most favored nations” policy, which was unveiled late last month, would peg what Medicare pays for 50 pricey injectable drugs to the lowest price paid in countries like Japan and Belgium. The change could cut reimbursement for some of the best-selling drugs in America, in half, or more.
About the Author Reprints
Given the procedural flaws in this administration move, obviously tied to election strategy and based on a fragile legal rationale, this seems likely to get decided not on policy substance but on procedure, pushing the debate about the underlying policy into the Biden Administration. To be continued…
Sounds like something PhRMA would do.