Genentech reaches pact with US. to lower costs for state Medicaid programs

Genentech, a member of the Roche (RHHBY) Group, announced an agreement with the U.S. government that lowers costs for state Medicaid programs, encourages other wealthy countries to reward innovation, and increases opportunities for direct patient access. Under this agreement, Genentech said it is making commitments that address all four priorities set forth in the President’s July 31st letter. Genentech’s commitments include making many of the company’s medicines, including those for serious and complex diseases, available as part of Medicaid for America’s most vulnerable patients at prices comparable to those available in other wealthy countries, the company said. Genentech will also expand its recently-launched direct-to-patient program for its essential flu medicines and make the program available via TrumpRx.gov. “Today’s agreement demonstrates our ongoing commitment to enhancing access to life-changing therapeutics, so patients may benefit from our country’s long-term commitment to innovation,” said Ashley Magargee, Chief Executive Officer of Genentech. “As the proud founder of the American biotech industry, we share the goals of the administration to address prescription drug costs and reward innovation. As always, Genentech will continue to seek solutions for lowering patient costs while increasing opportunities for patient access.”