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Prescription Drugs

  • China Tariffs Could Raise Prices for Prescription Drugs in U.S., Groups Warn  The Hill by Jessie Hellmann President Trump's proposed tariffs on goods from China could lead to higher prescription drug costs in the U.S., pharmaceutical groups warn. The Trump administration's list of Chinese-manufactured products that could be slapped with a 25 percent tariff includes many ingredients used to manufacture drugs such as insulin, antidepressants, and the anti-allergic-reaction drug epinephrine. China, according to the Food and Drug Administration, is one of the largest suppliers of ingredients used to make U.S.-consumed prescription drugs. Advocates and drugmakers worry that the tariffs would make generic products more expensive as the nation continues to struggle with already high drug prices. 

  • A Rare Loss for U.S. Pharma Lobby Will Cost the Industry Billions Bloomberg News by Anna Edney Deep in a budget deal Congress passed earlier this year just 118 words in Section 53116, a little before passages on prison reporting data and payment yields for seed cotton — was a hit to pharmaceutical companies that will cost them billions, and could signal more losses to come. Despite an intense lobbying push, lawmakers changed a Medicare rule, putting manufacturers on the hook for more of seniors' prescription costs. The companies will have to offer a much more generous discount to beneficiaries who fall into the so-called donut hole coverage gap, marking down retail costs by 70 percent instead of the current 50 percent. It was a rare defeat for some of the biggest spenders in the political influence game and raised new questions about how they'll fare in upcoming battles. Lawmakers have introduced bills that would squeeze the industry, and President Donald Trump has said he will roll out proposals this month to curb drug prices.

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