Government Has Power to Expand Weight Loss Drug Coverage and Lower Costs
WASHINGTON, D.C. — The Biden administration plans to expand antiobesity drug coverage to 7.5 million Medicare and Medicaid beneficiaries, which it projects will add $36 billion in costs to the programs over ten years, plus another $4 billion in state contributions. Twenty health organizations have urged HHS to lower costs by authorizing generic competition.
Public Citizen Access to Medicines Director Peter Maybarduk issued the following statement:
“There is a way to expand coverage and lower costs at the same time.
“The government has power under law to make weight loss drugs affordable by authorizing generic competition. Using that power, known as Section 1498, would expand access while keeping budgets in check.
“Expanding coverage without containing costs would be an early holiday gift for Big Pharma. Weight loss drugs cost only a few dollars to manufacture. But drugmakers charge hundreds of dollars, and charge Americans more than people in any other country.
“Access doesn’t have to be expensive. North Carolina has asked HHS to make generic competition possible. The State Treasurer is waiting for a response. President Biden pledged to make diabetes and obesity drugs affordable, in a push with Senator Sanders. President-elect Trump will have to decide whether to let drugmakers get away with ripping off Americans, or do what’s needed to stand up to prescription drug corporations.”