In its first week since the government reopened, Congress addressed prescription drug price increases with the House Committee on Oversight and Reform and the Senate Finance Committee holding hearings on Tuesday. It’s expected that 116^th Congress will be active in addressing drug price increases via increased investigation/oversight and possible legislative action.

The Senate Finance Committee hearing addressed a broad range of policy recommendations to reduce prescription drug prices, including:

• Importation;
• Reforming Medicare Part B pricing via international price index and flat fee provider reimbursements instead of a percentage of drug price;
• Increased government and PBM negotiation in Medicare Part D;
• PBM rebate reforms & drug couponing in Part D;
• Removing government deterrents to increasing value-based pricing, including waiving Medicaid best price rules for prescription drugs;
• Amending the sunshine act to track payments by drug manufactures to disease advocate groups; and
• Investigating anticompetitive behavior by brand and generic manufactures and much more.

  The House Oversight committee zeroed in on understanding the justification behind manufacturers’ sometimes dramatic price increases, how drug companies are using the proceeds, and what steps can be taken to reduce prescription drug prices. Specifically, the Committee asked the manufacturers at Tuesday’s hearing to share information and communications on:

• Price increases;
• Investments in research and development; and
• Corporate strategies to preserve market share and pricing power.