In Law360, Health Care Attorneys Address President Trump’s Executive Order on International Reference Pricing for Medicare Drugs
President Trump issued an executive order on international reference drug pricing, ordering that rulemaking on the prices that the Medicare program pays for drugs proceed to create a new system that relies on the lowest price paid in comparable developed nations. The executive order introduces some new concepts for international reference drug pricing, including application to Medicare Part D as well as Part B, and an even lower international reference price.
In a Law360 article, health care partners Tom Bulleit (Washington, D.C.) Deborah Kantar Gardner (Boston), and health care associates Scott Falin (Washington, D.C.), Josiah Irvin (New York) and Caroline Himamshu (Boston) discuss the specifics of the executive order, as well as some of the substantial challenges that will at least delay, and possibly prevent, its implementation. The authors note that the executive order introduces a new option on the international reference drug pricing political menu, but is unlikely to trigger immediate legal change.