N.Y. health insurance co-op to close | Survey: Drug price inflation to drive health care spending | Rare pediatric disease priority review voucher fee increased by FDA
September 28, 2015
PCMA SmartBrief
News for the PBM Industry

Legislative & Regulatory News
N.Y. health insurance co-op to close
Health Republic Insurance of New York, a nonprofit health insurance carrier created through the Affordable Care Act, will not renew or sell new policies for 2016 and will cease operations. Regulators ordered the company to close due to financial insolvency. Bloomberg (9/25), The Washington Post (tiered subscription model) (9/25)
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Survey: Drug price inflation to drive health care spending
Health care spending is likely to continue rising, driven by drug price inflation, utilization of specialty drugs and expensive new technologies replacing older procedures, a Segal survey found. Drug Store News (9/25)
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Rare pediatric disease priority review voucher fee increased by FDA
The priority review voucher fee for rare pediatric diseases will be raised by the FDA from $2.562 million for fiscal 2015 to $2.727 million for fiscal 2016. The agency came up with the new rate after estimating that the cost of a priority review for new molecular entity new drug applications and biologic license applications will be around $6.662 million, while the standard review cost for NME NDAs and BLAs will be around $3.989 million. Regulatory Focus (9/25)
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Drug Industry Spotlight
PhRMA announces new CEO
Stephen J. Ubl will succeed John Castellani as president and CEO of drug industry lobbying group Pharmaceutical Research and Manufacturers of America. Ubl has been president of medical device advocacy group Advanced Medical Technology Association for the past decade. The New York Times (free-article access for SmartBrief readers) (9/25)
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Turing "naive" for hiking drug's price, Biogen CEO says
Turing Pharmaceuticals CEO Martin Shkreli was "naive" in raising the price of an old drug from $13.50 to $750 per pill, Biogen CEO George Scangos said. Bloomberg (9/25)
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No legacy is so rich as honesty."
-- William Shakespeare,
playwright and poet
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About PCMA
PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 216 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D. PCMA is dedicated to enhancing the proven tools and techniques pioneered by PBMs that generate savings and access for consumers and payors.

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