Finalized GLOBE Part B Model Is Full of Holes
WASHINGTON, D.C. – The Centers for Medicare & Medicaid Services released its finalized GLOBE Medicare Part B drug price model today. The model is projected to save $440 million overall over seven years, down from the $11.9 billion projected in the proposed rule, and will only apply to four pharmaceutical companies. Peter Maybarduk, Access to Medicines director for Public Citizen, issued the following statement:
“Once again, the Trump administration has proved you can’t take a single one of its claims at face value. They told everyone they would save billions by making sure drug corporations can’t charge us more than they do in other countries. Now nearly every drug is exempt, and the projected savings are just 5% of what they told us before. The administration is likely to end up wasting more taxpayer money fighting the likely lawsuits on this model than it saves for patients. Americans need relief from high drug prices, not more secret deals with drug corporations that keep prices high.”