Congress Considers $30 Billion In ‘Biobonds’ For Small Drug Companies
The "biobonds" would be used to finance drug development by small firms or universities.
Lawmakers Pitch Bill To Create $30 Billion In Drug Development 'Biobonds'
In a bid to jumpstart drug development, a bipartisan group of lawmakers introduced a bill for the U.S. government to back so-called “biobonds,” which would be used to fund small companies and universities that are researching treatments for unmet medical needs. The LOANS Act, which would authorize a total of $30 billion over an upcoming three-year period, is designed to reduce what the lawmakers called a “perennial shortage of funds” and to help restart research stalled by the Covid-19 pandemic. (Silverman, 5/24)
AstraZeneca Loses Bid To Postpone HHS’s Drug Discount Deadline
A judge denied AstraZeneca’s request for two extra weeks to present a plan to resume giving steep drug discounts to certain pharmacies. Judge Leonard P. Stark of the U.S. District Court for the District of Delaware instead expedited on Monday a hearing originally set for June 9, which has now been rescheduled for May 27. AstraZeneca requested a speedier hearing as an alternative to pushing back the deadline for a discount plan.The case tests the government’s enforcement power under the federal 340B program, which requires drugmakers to give discounts to health centers with low-income patients. (Kramer, 5/24)