Responding to inquiries from the House Budget Committee, the Congressional Budget Office (CBO) has signaled its openness to examining new data concerning the potential impact of the Inflation Reduction Act’s price negotiation provisions on pharmaceutical innovation.
In November 2023, the House Budget Committee, expressed concerns regarding CBO’s analysis and model related to policies impacting new drug development in the United States, and urged CBO to ensure their analysis was rooted in the most recent and accurate information. Addressing these concerns, CBO’s Director, Phillip L. Swagel expressed the agency’s willingness to review new research on how changes in pharmaceutical companies’ anticipated future profits might influence drug development. In a blog post published on December 20, 2023, Swagel stated, “the agency could benefit from new research about how changes in pharmaceutical companies’ expected future profits affect the development of drugs.” Read the blog post here.
Last Updated on January 18, 2024 by Aimed Alliance
