Pharma's worst nightmare? Leaked Democrat pricing plan calls for negotiations, price index, fines and more

FiercePharma | September 10, 2019

Pharma's worst nightmare? Leaked Democrat pricing plan calls for negotiations, price index, fines and more
Pharma watchers have been awaiting House Speaker Nancy Pelosi’s drug pricing plan, and on Monday the industry got a peek at what Democrats are discussing to lower drug prices. The upshot? If the House leadership gets its way, it would devastate pharma's pricing power. The leaked document is outdated and the proposals could change, a senior aide told The Hill. The industry would put up fierce opposition, and Republicans could well balk, too. But the bullet points offer a glimpse into the talks behind closed doors that could end up out in the open—and on the House floor. In the draft drug pricing plan, published by Bloomberg Business, Democrats suggest authorizing the HHS secretary to negotiate prices for the top 250 drugs that don’t have at least two generic or biosimilar rivals. That would include the industry's biggest sellers, such as AbbVie's behemoth Humira and Merck & Co.'s powerhouse Keytruda. The plan also calls for an international price index to peg pharma’s U.S. prices to the much lower stickers overseas. It would also levy steep fines to keep drugmakers in line and place limits on price hikes, among other things.

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Merck | October 29, 2021

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BUSINESS INSIGHTS

Innovent and GenFleet Announce Exclusive Global License Agreement for GFH925 (KRAS G12C Inhibitor)

Innovent Biologics | September 02, 2021

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PHARMACY MARKET

Stevanato Group Announces Expansion of Corporate Headquarters

Stevanato Group | November 18, 2021

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Importantly, this expansion is further validation of the hard work of our employees, the demand for our innovative products and the continued growth of our business, and we expect it to allow us to be well positioned to build on our current momentum and advance development initiatives that are expected to directly benefit all of our customers and stakeholders around the world.” Franco Moro, CEO of Stevanato Group Construction of the new building began in September 2021. The Company expects to install and validate new lines in the second quarter of 2022, and expects industrial production to begin between late second quarter and early third quarter of 2022. Stevanato Group’s new flagship building represents an important development in its 2020-2023 Industrial Plan, including efforts to meet increasing global demand for premium products. 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Forward-Looking Statements This press release may include forward-looking statements. The words "expected", "expects", “intended”, "plans" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the size and use of the plant, the construction and timing of its plant, impact of the plant of the Company’s business and results of operations and the nature of the plant once complete. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

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Spotlight

The unfolding market in healthcare delivery is dramatically affecting pharma and medical device manufacturers. Are you ready to meet the new needs and demands? Register now for our two-day executive seminar to get the insights you need. Attend sessions this fall, or host a custom program in-house.