PhRMA: Obama's proposed $150B-plus drug-related cuts are "bad for patients"

04/11/2013 | Medical Marketing & Media · Hill, The

President Barack Obama's budget includes more than $150 million in reduced spending that affects drugmakers. "This budget is bad for patients, bad for innovation, and bad for the economy," said Matthew Bennett, PhRMA's senior vice president. The budget would weaken Medicare Part D and act as a disincentive to research and innovation, PhRMA said. The proposal would end patent settlements, increase discounts for branded medications under Part D, control prices for drugs for people eligible for both Medicare and Medicaid, and reduce biologic exclusivity from 12 years to seven.

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Medical Marketing & Media · Hill, The