Eli Lilly's CEO, John Lechleiter wasted no time after yesterday's elections to let it be known that he will be working to eliminate the independent payment advisory board (IPAB) that was empowered with the passage of the healthcare bill in March.
Lechleiter says he opposes the group's ability to cut acquistion costs of drugs under Medicare without its considering savings that the drug could create elsewhere in the system - for example in reduced hospitalizations. He also questions that it can act independently of Congress in certain circumstances.
He also indicates that he will lobby for reinstatement of of the Prescription Drug User Fee Act (PDUFA) that allows drug companies to pay the FDA to speed up drug application reviews. The industry generally likes anything that will help them get to market faster. Consumer advocates and health care activists generally dislike PDUFA -- saying it makes the FDA too dependent on the industry for its funding.
Lechleiter says he has already lobbied members of both parties on the topic. There is no moss growing under his feet that's for sure. See WSJ Health blog.
Posted by Bruce Lehr November 3rd 2010.
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