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Drugmakers would have to justify price hikes of at least 10% in a bipartisan bill called the Fair Drug Pricing Act.
"They will fiercely litigate to protect and keep their patents."In a related 2016 study sponsored by the American Hospital Association, 57% of hospital administrators reported that higher drug prices have had a moderate impact on their budgets, while 33.8% said the impact was severe.
Closer oversight of pharmacy benefit managers and banning direct-to-consumer and direct-to-physician promotion would also help, Knoer said.
The pharmaceutical industry spent more than billion to market directly to physicians in 2012 compared with billion that year to consumers, according to a study published that year in the Pew Charitable Trusts.
That alleged behavior includes preventing generic developers from accessing samples of branded products to demonstrate that a generic is equivalent and participating in blocking access to safety protocol needed to gain FDA approval.
The FAST Generics Act is estimated to save .4 billion a year in reduced drug costs.