On Friday, President Trump said the administration will soon issue an executive order mandating a “favored nations” policy that would require US payments for drugs to be capped at the lowers price paid by either a manufacturer or a developed country. The “favored nations” clause would ensure that no other country would receive a better deal than the U.S. It remains unclear if and how this proposal differs from the international price index proposal for drugs in Medicare Part B issued by the Trump Administration last fall.
State legislative Conference Committee members worked over the July 4th weekend on their compromise version of the FY2020 budget. Deliberations could come to a close this week and the final budget could be sent to the Legislature for approval in the coming days. If enacted by both branches of the Legislature, the budget will be sent to the Governor for his signature. He will have 10 days to approve the final budget and send back any vetoes. State government currently remains open under an interim budget, since the Fiscal Year for 2020 officially began on July 1.
Also this week, the Joint Committee on Financial Services will hear testimony on House Bill 959, requiring continual coverage of prescription medication, on Tuesday at 11 am. On Wednesday, the Health Policy Commission’s Advisory Council will meet to review their recent report on pharmacy benefit managers and other publications. And on Thursday, the House Post Audit and Oversight Committee will hold an oversight hearing regarding the Health Policy Commission report and findings on pharmacy benefit managers – members of the HPC are expected to discuss the report.