PhRMA has told a House Energy and Commerce subcommittee investigating recent drug price increases — as Congress considers healthcare overhaul legislation that may give some patients prescription drug rebates — that industry cost trends have slowed dramatically in recent years. The implicit message of allegations about brand prices seems to be that drugmakers may be raising prices before discounts or rebates take effect, Richard Smith, PhRMA senior vice president for policy and research, told the Subcommittee on Health Tuesday. “In fact, the sector currently is characterized by slow growth, rapid substitution of generics and the challenges of discovering safe and effective medicines.”
Drug Industry Daily