Biotech industry defends Medicare Part D

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.

To see more Hot off the Press news articles, click here.