Pres­i­dent Biden signs ma­jor drug pric­ing re­forms in­to law: What's com­ing for bio­phar­ma?

Pres­i­dent Joe Biden yes­ter­day af­ter­noon signed in­to law his­toric, decades-in-the-mak­ing new drug pric­ing re­forms as part of a wider rec­on­cil­i­a­tion bill that will like­ly take a chunk out of bio­phar­ma com­pa­nies’ prof­its for some block­busters just pri­or to gener­ic or biosim­i­lar com­pe­ti­tion.

The par­ti­san bill (all De­moc­rats in the House and Sen­ate vot­ed for it, and all Re­pub­li­cans vot­ed against it) in­cludes not on­ly Medicare price ne­go­ti­a­tions — which won’t kick off un­til 2026, leav­ing am­ple time for a le­gal chal­lenge — but manda­to­ry in­fla­tion-re­lat­ed re­bates, and a $2,000 an­nu­al cap on what se­niors’ pay for their pre­scrip­tion drugs.

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