March 15, 2023
D.C. News | Tea Leaves
  • The Biden administration will fine manufacturers who hiked prices for 27 medicines faster than the rate of inflation. Pfizer had five drugs on the list, the most of any manufacturer. AbbVie’s blockbuster arthritis drug, Humira, was also on the list. Officials said the goal, in part, is to send a message to other drug companies. Affected drug companies will have to pay back Medicare via rebates for the difference. The Centers for Medicare and Medicaid Services will start to invoice drugmakers for the rebates in 2025 in order to allow time to set up the operations. (Articles here, here, and here)
  • The U.S. Food and Drug Administration has authorized Pfizer’s omicron booster shot for kids under five years old who were previously vaccinated with three doses of the company’s original vaccine.  Children six months through four years old who completed their three-dose primary series with Pfizer and BioNTech’s original monovalent shots more than two months ago are now eligible to receive a single booster dose of the updated shot. The new shot is bivalent, meaning it targets the original Covid strain as well as omicron BA.4 and BA.5. (Article here)