T 50: US Trends in Drug Pricing Policy: Past, Present and Future
Poster Presenter
Fenan Solomon
Regulatory Affairs
Rutgers University United States
Objectives
To evaluate and compare past and present U.S. drug pricing policies and determine the feasibility of pending policies aimed at reducing medication costs for patients and health coverage plans.
Method
This study was conducted primarily via a literature review. The following were included: original and current drug pricing policies in the U.S., drug pricing policies in other countries that have influenced the U.S., and unsuccessful policies that have since been withdrawn or amended.
Results
Drug prices have increased dramatically due to a higher arbitrary value placed on innovation and limited government regulation. The future of drug pricing policy will depend on several factors including: the U.S. economy, the ability of third-party payers to incur the surge in drug costs, and the 2016 general election.
Conclusion
While the issue of rising drug prices has gained national media attention in the form of public legal action, citizen protests, and presidential candidates- drug pricing policy reform will be unlikely due to several complex factors.
