On July 26th, ASBM and the Generics and Biosimilars Initiative (GaBI) hosted a webinar entitled MEDICARE DRUG PRICE NEGOTIATIONS: Impact on Healthcare Development and Patient Access to Medicines which focused on unintended consequences for patient access that may result from the implementation of the Inflation Reduction Act (IRA).

The webinar focused on the IRA’s price negotiation provisions, which allow the Centers for Medicare and Medicaid Services to negotiate prices of certain costly drugs, including many biologic medicines. Webinar presenters discussed cost containment efforts in different countries and examine the impact these policies have had on patient care and on the practice of healthcare professionals including physicians and pharmacists. 

View the full webinar below:

View the entire webinar

Speakers included:
Michael S Reilly, Esq; Executive Director, Alliance for Safe Biologic Medicines, USA
Thomas R Barker, Esq; Former Acting General Counsel of the US Department of Health and Human Services; Former Commissioner of the Medicaid and CHIP Payment and Access Commission (MACPAC), USA
Charles Clapton, Vice President, Federal Government Affairs, Gilead Sciences, USA

These three former government officials worked on the development and implementation of Medicare Part D, the prescription drug benefit which is being modified by the IRA’s new price-setting provisions. Hear them discuss the likely effects of the new policy:

Steven Potts, PhD, MBA; a drug developer and CEO of Anticipate Bioscience discusses how the Medicare price-setting will discourage drug research and development:

Steven Potts’ presentation

Andrew Spiegel, Esq;  Executive Director, Global Colon Cancer Association, discusses how price setting results in reduced access to the latest treatments for cancer patients:

Andrew Spiegel’s presentation

Other experts in the discussion included:
Philip Schneider, FASHP, FFIP Past Vice President, International Pharmaceutical Federation (FIP) 
Matias Olsen; Public Affairs & Policy Manager, EUCOPE, Belgium 

View the Panel Discussion:

Panel discussion