In the life sciences industry, all eyes will continue to be on a successful COVID-19 vaccine rollout and when it can be safely administered to enough of the population to return to normal life. If all goes as planned, what other challenges will face the industry under this new administration? How will life sciences companies need to evolve? How will capping drug prices, allowing Medicare to negotiate prices, and drug importation affect competition and growth in the industry?
In the first episode of Insider Insights: 100 Days of Biden, Barbara Binzak Blumenfeld, a life sciences shareholder with Buchanan Ingersoll & Rooney with a specific focus on FDA regulation, serves as host. She interviews Liz Westbrook a senior advisor from Buchanan's federal government relations team in Washington, DC. Liz focuses on analyzing prospective laws and regulations in the life sciences space and beyond.
As part of this episode, Barbara and Liz cover:
- Expectations for the Biden administration with distributing the COVID-19 vaccine
- What other topics and focuses the new FDA will have under President Biden
- How price capping, allowing Medicare to negotiate prices, and drug importation will affect competition and growth in the industry
- The names floated to lead key life sciences regulatory bodies, including HHS, FDA and more
- Actions to expect the Department of Health and Human Services to take on under the Biden administration
In this episode, Barbara also brings up an important side topic as part of the COVID-19 vaccine – whether companies can mandate that their employees take the vaccine.