At J. P. Morgan Health Conference 2020 in San Francisco, CEOs from world’s leading and largest pharma companies called for lowering drug prices, but ironically no one offered to cut the prices of their own products.
Some executives were in favour of making changes to Medicare, the federal government’s health insurance plan for the elderly by adding an out of pocket maximum for beneficiaries. Others wanted passing rebates paid to pharmacy benefit managers through to consumers, saying the current system raised the list price and out of pocket costs.
There were a few others who blamed hospitals and insurers, saying they ultimately determine what patients pay at the pharmacy counter.