White House bemoans ‘rapidly growing’ drug prices

Feb 2, 2015

The White House said Monday that it is “deeply concerned with the rapidly growing prices of specialty and brand name drugs,” a victory for critics of pharmaceutical companies.  The remark came in a summary document for the administration’s proposed 2016 budget, which would give HHS the ability to negotiate drug prices for biologics and other medications in Medicare Part D.  Companies argue that while cures might cost high sums of money, they ultimately benefit patients and prevent later spending in the healthcare system.  This debate is currently taking place between America’s Health Insurance Plans and the Pharmaceutical Research and Manufacturers of America, trade groups for insurers and pharmaceutical companies, respectively.

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