By Blair Childs, Senior Vice President of Public Affairs, Premier
Members of the Premier Inc. healthcare alliance applaud the Senate for passing the FDA Reauthorization Act, legislation that requires FDA to set up a pathway for expedited review in cases when there are fewer than three generic drug manufacturers in the market. We believe this change is fundamental to ensure a competitive market, and we hope it will be signed into law by the President soon.
With healthy competition, Premier as a group purchasing organization is able to restrict prescription drug price increases to about 4.5 percent a year, a fraction of the 17 percent increases reported across the market by Medicare in the same year. While expedited reviews are an important first step to bring competition to the market, more needs to be done. Premier recently released nine policy recommendations that Congress and the administration should take to drive toward the goal of achieving a high-quality, cost-effective pharmaceutical industry, and we will continue to advocate for these and other positive policy changes in the future.
-By Blair Childs, Senior Vice President of Public Affairs, Premier