Biotech industry defends Medicare Part D

March 12, 2007

In a statement released to the press, the Biotechnology Industry Organization (BIO) defended the Medicare Part D program and insisted that government negotiation was "unnecessary and would likely reduce patient access to innovative therapies." Looking at a sample of 25 single-source drugs and biologics, BIO insisted that Part D plans offered lower prices than the on-line drugstores drugstore.com and Costco.com and wider availability of these medications than the VA plan. The Senate is currently debating a bill, similar to the House bill passed in January that would give Medicare the ability to directly negotiate prices with drug manufacturers.

In a statement released to the press, the Biotechnology Industry Organization (BIO) defended the Medicare Part D program and insisted that government negotiation was "unnecessary and would likely reduce patient access to innovative therapies." Looking at a sample of 25 single-source drugs and biologics, BIO insisted that Part D plans offered lower prices than the on-line drugstores drugstore.com and Costco.com and wider availability of these medications than the VA plan. The Senate is currently debating a bill, similar to the House bill passed in January that would give Medicare the ability to directly negotiate prices with drug manufacturers.

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