Representatives from AbbVie, AstraZeneca, Bristol-Myers Squibb, Janssen Pharmaceuticals, Merck, Pfizer and Sanofi voiced support for drug rebate reform, value-based program creation, and increasing transparency, biologics and generics awareness to lower U.S. drug prices at a recent Senate Finance Committee hearing.
President Donald J. Trump has called for lower drug prices, and has included these steps among his proposals.
Rebates
Under the current pricing structure, drug prices are higher because they are then offset by rebates to pharmacy benefit managers.
Senator Ron Wyman, D-Oregon, said this
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