California Life Sciences responds to revised guidance on Medicare Drug Price Negotiation Program
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June 31, 2023
South San Francisco, Calif. – Today, the Centers for Medicare and Medicaid Services (CMS) released its revised guidance on the Medicare Drug Price Negotiation Program. CLS is reviewing the guidance and will continue to update our members. We appreciate CMS acknowledging many of the issues we raised in comments to the draft guidance, and that the agency has noted the ability of patient advocates to participate in the process and for companies to manage their own disclosures. However, we remain concerned that the law will hamper companies’ ability to innovate and meet patients’ needs, particularly in the orphan drug space and the burdensome requirements on small companies. We look forward to continuing our engagement with CMS on the implementation of this new law.
About California Life Sciences: California Life Sciences (CLS) is the state’s most impactful life sciences membership organization, advocating for the sector and its diverse innovation pipeline. For more than 30 years, CLS has served the community by supporting companies of all sizes, from early-stage innovators and startups to established industry leaders in the fields of biotechnology, pharmaceuticals, and medical technology. As integral components of a healthy and collaborative ecosystem, CLS also works closely with universities, academic and research institutions, the investment community, and other critical partners that promote this vibrant sector. With offices in South San Francisco, San Diego, Sacramento, Los Angeles, and Washington DC, CLS works to shape public policy, improve access to breakthrough technologies, educate lawmakers, and advance equity within our ecosystem by championing innovative solutions for some of the most pressing challenges of our times. In doing so, CLS fulfills its mission to protect and nurture California’s life sciences industry, empowering discoveries that lead to healthier lives around the world. #WeAreCaliforniaLifeSciences