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FactCheck: PhRMA Ad Misleads on Medicare Drug Negotiation Legislation

FactCheck recently published insight from Rena Conti, Associate Professor in the Department of Markets, Public Policy and Law, on the topic of TV ads portraying false information regarding Medicare drug price negotiation.

Rena Conti

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October 20, 2021

FactCheck recently published insight from Rena Conti, Associate Professor in the Department of Markets, Public Policy and Law, on the topic of TV ads portraying false information regarding Medicare drug price negotiation. The article discusses these recent ads, paid for by Pharmaceutical Research and Manufacturers of America, which showcase misinformation regarding the federal government control over which medications people on Medicare can and cannot get. The pharmaceutical industry remains opposed to any effort to allow Medicare to negotiate drug prices.

The tv ads have raised speculation about some bills currently under consideration by lawmakers and touch on the debate of whether negotiation of drug prices for Medicare will result in a reduction in research and development in the drug industry. Rena explains that “this is not really reflective of any of the bills that we are aware of, or proposals that are on the table.”

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Rena M. Conti is an Associate Professor at the Boston University Questrom School of Business. From 2006 through June 2018, Professor Conti was an Associate Professor of Health Economics and Policy at the University of Chicago Medical School and the Harris School of Public Policy. She is a health economist and her research focuses on the organization, financing and regulation of medical care. She has written extensively on the pricing, demand and supply of prescription drugs.