HHS Secretary sets out proposal to lower US Rx drug costs

US Health and Human Services (HHS) Secretary Xavier Becerra yesterday unveiled a comprehensive plan to lower drug prices as part of a long-awaited  report from the HHS to the White House that offers a wide-ranging series of recommendations on curbing rising drug costs

Per-capita prescription drug spending in the USA far exceeds that of other high-income countries, with the total increasing to $369 billion in 2019, according to US data.

The Drug Pricing Plan is part of a broader initiative stemming from President Joe Biden’s  Executive Order on Promoting Competition in the American Economy, which also created the White House Competition Council tasked with coordinating, promoting, and advancing federal government efforts to address overconcentration, monopolization, and unfair competition in or directly affecting the American economy. The Report released by HHS is guided by the Administration’s principles for equitable drug pricing reform through competition, innovation, and transparency.