From CNBC: 2024-08-06 14:38:27

President Joe Biden has concluded the first round of Medicare drug price negotiations, with final prices set to be disclosed in September and implemented in 2026. While drugmakers are concerned about long-term impacts, recent earnings calls suggest less immediate worry regarding profitability. The negotiations aim to make medications more affordable for older Americans.

Bristol Myers Squibb, Johnson & Johnson, AbbVie, and Novartis executives have discussed the potential impact of Medicare drug price negotiations on their businesses. Bristol Myers has seen the final price for its blood thinner Eliquis and maintains confidence in navigating the impact. Other companies are adjusting financial forecasts in anticipation of sales hits from the negotiations.

Executives at Bristol Myers Squibb, J&J, AbbVie, and Novartis oppose Medicare drug price negotiations, highlighting concerns over government interference in pricing and impacts on innovation. Lawsuits from various pharmaceutical companies challenging the negotiations are still pending in district courts, echoing industry-wide pushback against the policy.

Northwell Health has launched Northwell Studios, a TV and film production studio, to raise awareness and differentiate within a competitive healthcare market. Projects focus on unscripted content and aim to tell stories about health care, with plans to expand into scripted content while minimizing disruption to operations and patient flows.



Read more at CNBC: Drugmakers on new negotiated prices with Medicare