Biden Administration Releases FY 2023 Budget -
The Biden Administration’s proposed Budget of the U.S. Government for FY 2023 (see also the accompanying fact sheet) includes proposals relevant to drug manufacturers. Department of Health and Human Services (HHS) Secretary Xavier Becerra issued a statement on the budget, and in recent testimony before Congress highlighted specific HHS goals, including reaffirming the President’s agenda “to work to lower the costs of prescription drugs, such as by capping the cost of insulin at $35 per month, and to allow Medicare to negotiate payment for certain high-cost drugs.” The budget itself proposes modification of the Medicaid Drug Rebate Program (MDRP) in the US territories. In its Budget in Brief, HHS identifies proposed technical changes to provide “flexibility” under the MDRP so that “territories ready to participate...may do so and achieve drug price savings without increasing drug prices in territories not ready to participate.” HHS explains that its “proposal excludes sales from the manufacturer calculation of average manufacturer price and best price in territories to ensure continued discounted drug prices for territories,” which “will support territories in continuing to provide medication access for vulnerable populations.”
Please see full publication below for more information.
