Healthcare & Life Sciences: Drug Pricing Digest - June 2021

Biden Releases Federal Budget Proposal for 2022: On May 28, 2021, President Biden released the proposed budget for fiscal year 2022, which would increase health spending by 23%. The proposal urges Congress to enact drug pricing reform this year but leaves developing policy specifics to the legislators. Somewhat unexpectedly, the budget includes a proposal to amend the 340B statute to require covered entities to “permit the Secretary to audit, at the Secretary’s expense, the records of the entity to determine how net income from purchases under this section [i.e., the 340B program] are used by the covered entity.”

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