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Footing the bill: how the Life Sciences industry is reacting to the latest Medicare reforms

In this latest article, Compass Life Sciences EVP & Country Head David Jolley examines the Medicare bill currently passing through the US Senate, and its impact on patient access to medicine and healthcare in America.

The report discusses the following points in further detail: 

  • The US government is pushing a proposal through the Senate outlining legislation which would progressively cap the cost the US population pays for medicine.
  • The new laws being passed would give greater power to Medicare and support from the Administration to negotiate the price point for medicines – which has generated significant opposition from pharma lobbyists.
  • There are more than 1.2 million adults in the US paying more than $2,000 annually for their medication – with advocacy groups citing it has taken nearly two decades to reach this point.
  • Pharmaceutical executives have pushed back saying that the cap on costs will have a negative impact on innovation and investment towards R&D, which is a far greater consequence compared to the suggested benefits.
  • Broad consensus from industry experts that this is a false flag aimed towards political pointsscoring.
  • Pending mid-term elections in the US mean that many consider the announcement a vote-generating ploy for Democrats, and as such it is unlikely to have much real-world impact in reducing market prices for medicine in the US.

To find out more, read the full report here CLS Insights – Footing the bill – how the life sciences industry is reacting to Medicare reforms.

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