Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl has issued a statement regarding the administration's choice of the most favored nation policy.
"The focus of any reforms must be on lowering costs for patients, ensuring patients’ access to medicines, addressing the misaligned incentives in the pharmaceutical supply chain and protecting the critical work being done to end COVID-19," Ubl said in a release. "Unfortunately, instead of pursuing these reforms the White House has doubled down on a reckless attack on the very companies working around the clock to beat COVID-19."
Ubl said the most favored nation policy will give foreign governments input on how America provides care for seniors and others with debilitating diseases. The expanded policy includes medicines in Medicare Parts B and D which exposes medications for seniors. PhRMA suggests using existing trade enforcement tools to keep other countries from profiting off America's innovations.
“We must not gamble on America’s need for continued medical progress, for a strong U.S. economy or on our ability to win the fight against the COVID-19 pandemic," Ubl said.
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