Drug Industry Warns Against Medicare Part D Rebates

Law360, New York (February 13, 2013, 8:35 PM EST) -- The pharmaceutical industry on Wednesday balked at President Barack Obama's reference to cutting payments to drug companies in his State of the Union address, saying his proposal to require added rebates in Medicare Part D would lead to higher premiums and more restricted access to drugs.

In his Tuesday address, Obama said he would propose “modest reforms” to Medicare to help contain spending growth and singled out pharmaceutical companies.

“Already, the Affordable Care Act is helping to slow the growth of health care costs. And the...
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