
In the first test of a new law designed to lower drug costs, a New York state panel voted unanimously to seek an additional rebate for a pricey cystic fibrosis drug for the state Medicaid program.
The decision comes in response to concerns that the medicine, which is called Orkambi and has a list price of $272,000, may cause the state Medicaid program to exceed a cap on drug spending. In a 10-to-0 vote, the state Department of Health was authorized to negotiate with Vertex Pharmaceuticals (VRTX) for a rebate that would bring the cost down to about $83,200 and match cost effectiveness estimates.
What is it?
STAT+ is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- STAT+ Conversations
- Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.