August 18, 2021

MFN Rule Withdrawn President Joe Biden’s administration has formally withdrawn the Trump-era “Most-Favored Nation” Medicare Part B drug pricing model. The interim final rule implementing the reference pricing model was released in the waning days of the Trump Administration and faced continued legal hurdles. The model would have used foreign price controls in the Medicare program, stifling innovation while disrupting access to necessary treatments for Medicare beneficiaries.  BioNJ applauds the Biden Administration’s decision to withdraw the “Most-Favored Nation” interim final rule. We look forward to the development of further federal policies that would achieve the important goal of simultaneously improving Patient access to new treatments while lowering Patient out-of-pocket costs.  Please click here for more on the MFN rule withdrawal.

Federal FY2022 Budget Framework Unveiled U.S. Senate Democrats unveiled and passed a budget resolution that plans for more than $3.5 trillion in fully-offset federal spending to enact the “Build Back Better” agenda. The budget resolution passed on a partisan 50-49 vote and now heads to the U.S. House for consideration. House Majority Leader Steny Hoyer (D-MD) has indicated that the House will return August 23 from its traditional August District Work Period to consider the Senate-passed resolution. BioNJ is generally supportive of enhanced Medicare access and other policy priorities identified in the budget resolution. However, these policy priorities should not come at the expense of continued access to the lifesaving, innovative treatments that are so critical for Patients and that BioNJ members research and manufacture right here in the Garden State.     Click here for a memo detailing the budget reconciliation instructions.

President Biden Makes Remarks on Drug Pricing Discussions President Biden recently called on Congress to pass drug pricing reforms, including Medicare “negotiation,” inflationary caps and out-of-pocket caps for Medicare beneficiaries. President Biden also voiced his support for allowing further “importation” of prescription treatments. We share the concern that all Patients must be able to access the treatments they need when they are needed most. And we also believe that there are ways to address drug pricing – such as Senator Menendez’s legislation providing cost certainty to Medicare beneficiaries – that will both lower Patient costs and protect the innovative therapies that are saving Patient lives. Proposals that threaten this successful ecosystem or Patient safety – such as importation – should be discarded in favor of solutions that protect innovation and access. Reforms should also take a systemwide approach rather than focus on the segment of the supply chain where true innovation is taking place.  Click here for the White House fact sheet on President Biden’s remarks.

CMS Unveils Plan for Innovation Center In a Health Affairs blog post, Centers for Medicare and Medicaid Services (CMS) Administrator Chiquita Brooks-LaSure unveiled the agency’s vision for the Center for Medicare and Medicaid Innovation (CMMI) during its second decade in existence. The post details CMMI’s work on its more than 50 payment models in the 11 plus years since the ACA became law. The blog post sets a vision for CMMI moving forward, including an enhanced focus on health equity.  Click here for the Health Affairs blog post (registration required).

We Need Your Help: Support BioNJ Policy and Advocacy Efforts BioNJ is the voice of New Jersey’s life sciences sector in Trenton and Washington. BioNJ’s Public Policy Support Series sponsorship opportunities are available for 2021. Sponsorship opportunities help make sure that our message is delivered in both Trenton and Washington, D.C. Help ensure BioNJ continues to deliver our message of improved Patient access and enhanced innovation through a Public Policy Support Series Sponsorship.    More information is available here.

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