5:45 PM
 | 
Feb 08, 2018
 |  BC Extra  |  Politics & Policy

Senate budget deal whacks pharma, boosts NIH

The Senate is debating budget legislation that would cost drug companies tens of billions of dollars, increase NIH’s budget and help enhance market access for biosimilars.

Drug companies were surprised to learn Wednesday night that the Senate budget deal includes provisions that would shift billions of dollars in costs from Medicare Part D plans to pharmaceutical companies. The bill seeks to increase the discounts drug companies pay to beneficiaries whose drug costs fall into the coverage gap, or donut hole, to 70% from the current 50% level. The change would save the federal government about $10 billion over a decade, according to a Congressional Budget Office estimate. It would cost drug companies close to $40 billion...

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