Bristol Myers Squibb WSJ Editorial
Recently, the CEO of BMS wrote an editorial for the Wall Street Journal examining the harm caused by “price negotiation” in the federal Inflation Reduction Act. Here’s an excerpt:
Contrary to how it has been framed, the Inflation Reduction Act’s drug-pricing program doesn’t involve negotiation in any ordinary sense of the word. If drug developers disagree with the dictated price, our only options are to pay impossibly high penalties or withdraw our medicines from Medicare and Medicaid.
That’s no choice. We’d never do that to patients. That essentially lets the government set any price it chooses. Making matters worse, the Inflation Reduction Act will force drug makers to “agree” that the dictated price is the “maximum fair price,” no matter how unfair the price may be.
The law will end up discouraging the development of oral drugs that help millions of elderly patients in the U.S. That’s because the Inflation Reduction Act arbitrarily offers less protection to “small molecule” medicines, including those taken in a pill or capsule, than to “large molecule” injected or infused medicines, thus penalizing the development of treatments that are more convenient for patients. It also targets treatments that help many older Americans, sending a signal that industry should walk away from medicines for the elderly. We think that’s wrong.
You can read the entire op-ed here.
Rulemaking
Hospitals The DEPARTMENT OF HEALTHCARE AND FAMILY SERVICES adopted an amendment to Hospital Services (89 IAC 148; 47 Ill Reg 5906) effective 8/25/23, implementing Public Act 102-43. The rulemaking removes restrictions on payment for repeat alcohol or drug detoxification admissions of patient age 21 or older within 60 days after the patient’s discharge from a previous inpatient detox admission. Questions/requests for copies: Steffanie Garrett, HFS, 201 S. Grand Ave., East, 3rd Floor, Springfield IL 62763-0002, HFS.Rules@illinois.gov
Physical Therapists The DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION adopted amendments to the Part titled Illinois Physical Therapy Act (68 IAC 1340; 46 Ill Reg 15922) effective 8/24/23, concerning intramuscular manual therapy (IMT), and initial and continuing education (CE) for physical therapists. The rulemaking allows physical therapy assistants to perform IMT if they meet the IMT training requirements established for physical therapists and complete the required 200 patient treatment sessions under direct line of sight supervision by a licensed physical therapist.
BIPA Is Turning 15 - Register Today
Date/Time: Friday, October 6, 2023 | 10:00 am – 3:00 pm
Location: The Security Innovation Hub | 1302 South Kilbourn Ave. Chicago, IL 60623
What will you learn? Delve into the present legal, political, scientific, ethical, and technological aspects of BIPA. Acquire insights from industry experts on how to proactively maintain and oversee your onboarding, access control, data and compliance protocols, ensuring their ongoing effectiveness to help avert a BIPA lawsuit.
Who should attend? Businesses of all sizes – small, medium, enterprise, and mega-tech – can gain valuable insights into BIPA compliance. We suggest that individuals with the following roles consider attending: Owners, CISOs, CSOs, Human Resources personnel, Legal departments, Accounting professionals, IAM staff, Operations and Facility Managers.
Why participate? With class-action payouts surpassing 1 BILLION++ dollars (and still rising), Illinois has earned the reputation of being “a cottage industry for BIPA lawsuits.” Now is a pivotal juncture for businesses across diverse sizes and sectors to grasp the significance of BIPA and actively engage in discussions. BIPA's impact has been felt across a wide spectrum, cases range from chicken processors, roofing distributors, retailers, restaurants, and amusement parks to mega tech corporations. It's imperative for all of these entities to comprehend the intricacies of the BIPA law, which encompasses both digital and physical implications.
Veto Session Dates
Veto Session will be here before you realize. Lawmakers announced the 2023 dates for October 24-26 and November 7-9. View the calendar here.
Articles of Interest
