NASEM report offers strategies to make prescription drugs more affordable

Nov 30, 2017 - 09:17 AM

Access to effective and affordable medicines is necessary for public health, social equity, and economic development, but the biopharmaceutical sector is not meeting that need, according to a report released today by the National Academies of Sciences, Engineering, and Medicine. “Our report seeks to address the market failures that currently permeate the biopharmaceutical sector, such as lack of competition due to distortions in the application of the patent protection process, the imbalance between the negotiating power of suppliers and purchasers, and the convoluted structure of the supply chain,” the authors note. The report offers eight recommendations with 27 actions to improve the affordability of prescription drugs without discouraging the development of new and more effective drugs for the future. Among other measures, the report recommends improving methods for assessing the value that drugs provide and ensuring that incentives to develop drugs for rare diseases are not extended to widely sold drugs; taking actions to continually foster greater access to off-patent generic drugs; and discouraging direct-to-consumer advertisements for prescription drugs. 

Related News Articles

Headline
Agencies finalize updates to insurer transparency requirements
Multiple changes to transparency in coverage requirements for insurers were finalized Oct. 5 by the Departments of the Treasury, Labor, and Health and Human…
Headline
CMS finalizes GLOBE drug pricing model
The Centers for Medicare & Medicaid Services Sept. 30 finalized its Global Benchmark for Efficient Drug Pricing Model, also known as the GLOBE Model. The…
Headline
HHS clarifies when state Medicaid agencies can use patient SUD records to verify exemption from community engagement requirements
The Department of Health and Human Services Office for Civil Rights released new guidance on statutory and regulatory requirements under 42 CFR Part 2, which…
Headline
CMS launches outcomes-driven quality measurement initiative for states 
The Centers for Medicare & Medicaid Services Sept. 25 announced the launch of a new initiative measuring quality in Medicaid and the Children’s Health…
Headline
CMS to remove Marketplace coverage for more than 760,000 as part of anti-fraud efforts
The Centers for Medicare & Medicaid Services will cancel approximately 315,000 enrollments impacting more than 760,000 individuals as part of its anti-…
Headline
AHA recommends changes to CMS’ Medicaid provider tax proposed rule
The AHA commented Sept. 21 on the Centers for Medicare & Medicaid Services’ proposed rule to implement the changes to Medicaid provider tax policies that…