This training workshop will address the following areas and implications of the IRA:

Suppresses Innovation
Reduces Generic Competition
Suspends Development of a New Orphan Drug Indications
Incentivizes Development of Biologics Instead of Small-Molecule Drugs
Delays Launching for Small Indications Before Large Indications
Spillover to Commercial Impacting Drugs Not Subject to. Price Negotiation
Spillover to Medicaid Triggering Best Price and Reduces 340B Price

Course Description:

The Inflation Reduction Act is a game-changer that embodies complex prescription drug provisions with far-reaching implications. The federal government will negotiate prices for high-cost drugs covered under Medicare. Medicare price increases will be constrained by required inflation rebates when drug prices outpace inflation. Medicare Part D will be redesigned to eliminate the coverage gap (“donut hole”), cap beneficiary out-of-pocket costs at $2,000 per year, shift costs from the government to drug manufacturers & prescription drug plans and require pharma manufacturers to pay uncapped government rebates.

The course will enhance your knowledge of the complex provisions and implications of the Inflation Reduction Act. Numerical examples, charts and graphs will be presented illustrating key concepts and implications from a financial, market access, commercial and strategic perspective.

By attending this course, you'll learn about:

Inflation Reduction Act implementation timetable
Medicare price negotiation – process and government considerations
Maximum fair price
Impact of Medicare price negotiations on competitive drugs pricing and rebates (spillover)
Implications of Medicare price negotiations on Medicaid best price and rebates
Expansion of low-income subsidies ("LIS")
Medicare Part B & D inflation rebates
Double whammy: PBM-negotiated price protection rebates and Medicare Inflation Rebates
Medicare benefit redesign restructuring:
- Comparison – Inflation Reduction Act and current benefit design: who pays what % & when
- Estimating pharma liabilities for drugs in catastrophic phase
- Implications of prescription drug plan responsibility increasing from 15% of total drug costs under current law to 60% in catastrophic phase starting in 2025
Impact of Inflation Reduction Act on drug manufacturer rebates & patient out-of-pocket costs
Estimating flow-thru of price increases
Financial, market access, commercial and strategic considerations for pharma manufacturers

CPE Credits: 2
Field of Study: Finance
Level of Knowledge: Basic
Advance Preparation: None
Prerequisites: None
Delivery Method: Group Internet Based
In accordance with the standards of the National Registry of CPE Sponsors, CPE credits will be granted based on a 50-minute hour

Murray KayFormer Senior Vice President and Chief Financial Officer, Solvay Pharmaceuticals and Former Commercial Controller at AbbVieSpeaker

Agenda Sessions

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Murray Kay
Former Senior Vice President and Chief Financial Officer, Solvay Pharmaceuticals and Former Commercial Controller at AbbVie
Speaker