In its first move towards fulfilling the president's campaign promise to reduce the cost of prescription drugs, the Trump administration released a 28-page document summarizing a number of ways to push down prices.
Most of the suggested policies are traditional right-of-center ideas that emphasize the benefits of competition and the harms of government regulation. Few of the proposed solutions are specific.
The administration points a finger at the FDA, saying that the time it takes the agency to review and approve new drugs leaves consumers with fewer generic options and higher prices. One potential solution, it suggests, is to change "the criteria for expedited review to include new molecular entities that are second or third in a class, or second or third for a given indication for which there are no generics."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.