Biden names 31 tech hubs: Here are 10 relevant to pharma and biotech

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Traditionally, the tech and biotech sectors in the U.S. have been concentrated in a handful of regions — most notably in areas such as Boston, Seattle, Silicon Valley and Southern California. But the Biden administration aims to distribute innovation more evenly through the U.S. To that end, the administration has designated 31 tech hubs across the U.S. to help drive innovation and job creation in a variety of industries.

These tech hubs are part of a competitive program involving $500 million in federal funding, with each hub eligible to apply for $50–$75 million to drive innovation in their respective focus areas. Here, we highlight 10 hubs that are especially relevant to the pharma and biotech sectors, describing their unique focus areas.

Three of the regions were featured in an earlier Drug Discovery & Development roundup on emerging biotech hubs: Baltimore, Maryland; Mad…

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CMS retreats from ‘most favored nation’ drug pricing scheme

Former President Trump’s plan to peg the price of some drugs to those paid in other developed nations was always controversial. Not long after Trump unveiled an executive order supporting the idea on Sept. 13, 2020, organizations, including PhRMA and Regeneron, filed lawsuits to block the rule.

Several courts agreed that the policy, which CMS codified in November 2020, had procedural issues. Namely, the agency provided less time for involved parties to comment on the rule than the Administrative Procedures Act prescribes.

HHS predicted the rule would save the federal government $85 billion over the next seven years.

Now, the Biden administration is moving to revoke the interim final rule that would have enacted the rule.

It remains unclear, however, what scheme to reduce drug pricing might follow. The Biden administration has stated that it is eyeing ways to reduce spending on Medicare Part B drugs.

The ‘most favored nation’ rule was not ju…

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Biden and Pelosi pursuing plans to cap drug prices

Joe Biden and Nancy Pelosi images from Wikipedia

President Biden has instructed FDA to develop a plan to import prescription drugs from Canada while asking federal officials to create a “comprehensive plan” to cut drug prices within 45 days.

Biden has also recommended that FTC block “pay for delay” agreements from pharma companies paying generic drug makers to hold off on introducing competitive products.

The proposals are included in a far-reaching executive order with several healthcare provisions. The main thrust of the order, however, is stimulating competition in the economy.

Earlier this year, Biden asked Congress to allow Medicare to negotiate drug prices, which was also a goal spelled out in the 2019 House Bill H.R. 3 that Democrats reintroduced in April.

Biden included the recent effort to give Medicare drug negotiation powers in an executive order intended to spur economic comp…

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