Biopharma leaders to propose IRA fixes at House hearing

GOP criticism of the Inflation Reduction Act’s Medicare drug pricing negotiation program has been muted, reflecting voters’ antipathy to the pharmaceutical industry and bipartisan enthusiasm for reducing drug prices. In the current political environment, there’s little chance of enacting meaningful changes in the law, but it is possible to start building support for modifications that could reduce its unintended negative consequences.

House Republicans are set to dip their toes into the IRA waters this week. The Energy and Commerce Committee’s oversight and investigations subcommittee is holding a hearing Wednesday on “How the IRA’s Price Setting Scheme Means Fewer Cures for Patients.” The subcommittee will hear proposals from the biopharma industry for modifying the law to reduce disincentives to develop small molecule and orphan drugs. ...