Pharma/Drug prices.
Amy Baxter, 7-23-2024 | Amy Baxter is a staff reporter for PharmaVoice. Before joining the team, she served as an editor and reporter in the B2B healthcare space for eight years at Health Exec and Home Health Care News. She also covered the retail industry as editor of Retail Leader, and hosted an Hermes award-winning weekly podcast and video interview series, Trend Talk, featuring industry executives and experts. A lifelong sailor, Amy has taken her media skills on the water to cover regattas and sailing events across the country. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Race to Mackinac Island. She is based in Florida. | “Where Kamala Harris stands on three key pharma issues”, PharmaVoice, https://www.pharmavoice.com/news/kamala-harris-pharma-healthcare-president-ira/722189/ | DOA: 7/26/2024 | Skrishna
The pharma industry has long been accused of holding sway in Congress, with companies and lobbying groups giving around $1.6 million to lawmakers during the first six months of 2021, according to a KFF Health News report. Since 2008, more pharma lobbyist cash has generally been directed toward Republicans. But during her first presidential bid in 2020, Harris raked in thousands of dollars of donations from pharma companies, according to a report from The Intercept. Her campaign had previously told CNN that she didn’t take “any money from pharmaceutical executives.” While she returned some of the money, including a $2,700 donation from an executive at Pharmaceutics International, records showed there were donations from other executives from Pfizer, Vertex and others, The Intercept reported.
Still, Harris has shown support for drug pricing reform and took a hard line in several suits against pharma companies during her tenure as attorney general in California. After a handful of billion-dollar-plus settlements with drugmakers, California won $46 million from GSK for illegal marketing and drug pricing, $89 million from Johnson & Jonson and Janssen Pharma over unlawful marketing practice and $23.6 million from McKesson for inflated drug prices.
Here’s what else Harris’ record and public comments reveal about where she stands on three important issues for pharma.
Medicare drug prices negotiation
Harris played a pivotal role in the Biden Administration passing the Inflation Reduction Act by casting the “tie breaking vote” for the law in the Senate.
Much to the ire of many in the pharma industry, the IRA empowers the Centers for Medicare and Medicaid Services to negotiate prices of certain drugs covered by Medicare. And with the first wave of 10 drugs currently in negotiations between the government and drugmakers, implementation shows no signs of slowing down despite several legal challenges from pharma companies.
In general, Harris has demonstrated a willingness throughout her career to support measures that address drug costs.
“When I was attorney general of California, I met countless families quietly suffering because they or a loved one couldn’t afford the medication they needed and were prescribed,” she said last year. “I [Harris] investigated drug makers that tried to stop production of cheaper generic versions of their drugs, and we held them accountable.”
In addition, when Harris ran in the 2020 presidential primary election, she published a Medicare for All plan that would specifically allow HHS to negotiate for lower prescription drug prices.
Out-of-pocket costs
The IRA also created new out-of-pocket caps for seniors on Medicare Part D plans. In May,she stated she intended to expand cost caps beyond Medicare recipients.
“President Biden and I [Harris] took on Big Pharma and capped the cost of insulin at $35 and the annual cost of prescription medication for seniors at $2,000 a year,” she said on Facebook on May 19. “When we win reelection, we will cap these costs for everyone.”
Harris also previously supported leveraging march-in rights to lower drug prices, a controversial provision that would allow the government to take control of certain patents.
The Biden administration then stated it could implement march-in rights late last year, but has yet to leverage that authority.