The IRA’s drug pricing provisions are viewed favorably by voters. Accordingly, the industry’s legal challenge to block Medicare from price negotiations is unpopular.
But it appears that this is not something the average person in the street takes note of. Nor do most people realize that high out-of-pocket expenses for consumers aren’t solely the result of drug company policies. Certain actors in the drug supply chain, including pharmacy benefit managers, also play a role. However, a nuanced discussion of drug pricing doesn’t resonate.
Moreover, according to the survey the legal actions taken to oppose what Medicare is implementing seem to be reinforcing the negative attitude many Americans have.show that the respondents who viewed drug firms unfavorably increased from half to two thirds upon hearing about the lawsuits. But there’s also a problem for the pharmaceutical industry itself in terms of its public image. Broader support among ordinary citizens can help shape what lawmakers do in Washington DC, to boost the industry’s fortunes, for example, through tax incentives, research subsidies and improvement in access to biopharmaceuticals provided under the government programs, Medicare and Medicaid.
And, while in office as President the now likely presidential nominee of the Republican Party, Donald Trump, issued executive orders that would havethe prices of certain pharmaceuticals to the average or lowest price among our peers. International price referencing may pose a greater threat to the pharmaceutical industry than any provision included in the IRA. As a reminder, Trump has repeatedly criticized the industry for “unfair pricing” behavior and “getting away with murder.
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