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Legislation to fix ‘pill penalty’ reintroduced in Congress
BIO applauded the reintroduction of bipartisan legislation that would eliminate the “pill penalty” in the Inflation Reduction Act (IRA).
The bill: The IRA arbitrarily gives small molecule drugs only nine years of total protection from price controls, while biologics can be exempt for 13 years. The Ensuring Pathways to Innovative Cures (EPIC) Act, H.R. 1492, introduced in the previous Congress and reintroduced on Feb. 21, alters the IRA provision.
Why it matters: “For decades small molecule medicines that come in a pill or tablet have been recognized for improving patient adherence,” said BIO President & CEO John F. Crowley. “Today, instead of building on years of biomedical progress, some innovator companies and investors are now being forced to pull away.”
BIO’s view: “On behalf of America’s patients and biotech innovators. I’d like to thank Reps. Gregory Murphy (R-NC), Don Davis (D-NC) and Richard Hudson (R-NC) for their leadership on this important issue,” Crowley said. “This bipartisan legislation will eliminate the pill penalty and help ensure science and researchers—not government bureaucrats—determine the possible treatments innovator companies pursue."
Related legislation: Rep. Davis on Thursday introduced the bipartisan Maintaining Investments in New Innovation (MINI) Act (H.R.1672). Like the EPIC Act, the MINI Act would increase price control exemptions of small molecule drugs from nine to 13 years, but it specifically provides this extension to small molecule drugs with genetically targeted technology. - Read more on Bio.News.
House members urge passage of PBM reforms
Congress must pass legislation to prevent pharmacy benefit managers (PBMs) from inflating drug costs, limiting patient access, and forcing pharmacy closures, lawmakers from both parties agreed last week.
What happened: At a Feb. 26 Energy & Commerce Subcommittee on Health hearing, Chair Earl “Buddy” Carter (R-GA), Ranking Member Diana DeGette (D-CO), Reps. Jake Auchincloss (D-MA). Mariannette Miller-Meeks (R-IW), Rep. Diana Harshbarger (R-TN), Rep. John Joyce (R-WV), and others criticized PBMs.
Why it matters: Three PBMs, acting as middlemen, control 80% of the U.S. prescription drug market and leverage their position to profit through anticompetitive tactics that harm patients.
Where things stand: Bipartisan PBM reforms and other important health legislation were included in a proposed funding bill in December but ultimately cut from that bill, noted Rep. DeGette.
What’s next: With Congress focused on spending legislation, Rep. DeGette suggested reintroducing the health bills in March by “suspension,” a procedure allowing for a quick vote on broadly supported measures. Rep. Carter agreed to consider it.
What they’re saying: “We have heard directly from our constituents that the harmful and anticompetitive tactics of some PBMs have only gotten worse, and that Congressional action is desperately needed,” Rep. Carter said. - Read more on Bio.News.
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