Senate Bill Would Force Company Cyber Disclosure on SEC Filings

Amid growing alarm on Capitol Hill over cybersecurity and data privacy, new Senate legislation would require publicly traded companies to disclose in Securities and Exchange Commission (SEC) filings whether they have cybersecurity experts on their boards of directors – and if not, explain why.

Sen. Jack Reed, D-R.I., said his legislation is meant to encourage companies to be more transparent about whether and how their boards and senior management are prioritizing cybersecurity.

His bill – the Cybersecurity Disclosure Act – picked up support from several key lawmakers, such as Sen. Mark Warner, D-Va., one of the Senate’s leading voices on cyber policies and vice chairman of the Intelligence Committee. It also enjoys Republican support, with Sens. Susan Collins, R-Maine, and John Kennedy, R-La., signed on as co-sponsors. Continue Reading

Capitol Hill Healthcare Update

Below is this week’s “Capitol Hill Healthcare Update,” which is posted on Mondays when Congress is in session. Highlights this week: Azar testifies before three committees on HHS’ budget; a series of Senate bills targeting pharma introduced; medical device tax repeal legislation introduced – but only in the Senate; outpatient physicians plan to lobby on Part B reimbursements; and more. Continue Reading

The Weekly Hill Update

Washington D.C. The capitol, the seat of the government of the United States.Below is the Federal Policy team’s weekly preview, published each week when Congress is in session.

HEADLINES

•  The Trump administration will release its fiscal year 2020 budget request, a largely symbolic document that demonstrates the president’s policy priorities but won’t be enacted by Congress.

•  The Senate is likely to approve a House-passed resolution blocking Trump’s emergency declaration along the U.S.-Mexico border, setting up what would be the first veto of his presidency.

•  Congressional committees continue their busy pace, including hearings on the budget as well as on net neutrality, the financial services industry and chemical facility safety. Continue Reading

Capitol Hill Healthcare Update

Below is this week’s “Capitol Hill Healthcare Update,” which is posted on Mondays when Congress is in session. Highlights this week: PBMs next in Senate committee’s crosshairs; lawmakers continue scrutiny on insulin prices; bill introduction suspending medical device tax delayed; Grassley renews nursing home abuse inquiry; more committees hold more drug pricing hearings; and more.

Continue Reading

The Weekly Hill Update

Washington D.C. The capitol, the seat of the government of the United States.Below is the Federal Policy team’s weekly preview, published each week when Congress is in session.

HEADLINES

• The House will take up H.R. 1, a broad measure addressing voting rights, campaign finance and government ethics laws.

• Michael Cohen, the former attorney for President Donald Trump, continues his behind-closed-doors testimony at the House Intelligence Committee.

• Congressional committees continue intense scrutiny of the pharmaceutical industry.

Continue Reading

Finger-pointing but few fireworks at Senate hearing on drug prices

Amid finger-pointing but few real fireworks, the seven pharmaceutical executives testifying before the Senate Finance Committee today offered lawmakers a spirited defense of the industry but also substantive policy concessions to address drug prices. They avoided gaffes and left the industry in no worse a political position than before the hearing.

Democrats predictably were unsatisfied, and several Republicans appeared open to considering changes to patents, Medicare Part D and other policies. While the executives largely escaped the hearing without adding to the industry’s challenges on the Hill, pharma remains in bipartisan lawmakers’ legislative crosshairs. The industry hasn’t faced this level of legislative risk since 2009, when Democrats controlled the Congress and the White House and began to push what became known as the Affordable Care Act. Continue Reading

Capitol Hill Healthcare Update

Below is this week’s “Capitol Hill Healthcare Update,” which is posted on Mondays when Congress is in session. Highlights this week: Pharma industry CEOs testify before a Senate committee; House and Senate panels probe insulin prices; medical device tax suspension bills to be introduced; Gottlieb to testify before House panel; and more.

Continue Reading

The Weekly Hill Update

Washington D.C. The capitol, the seat of the government of the United States.Below is the Federal Policy team’s weekly preview, published each week when Congress is in session.

HEADLINES

• President Donald Trump will travel to Vietnam for his second meeting with North Korean leader Kim Jong-Un.

• Michael Cohen, Trump’s former personal attorney, will testify before three different congressional committees this week.

• Pharmaceutical executives will be grilled by the Senate Finance Committee, as pressure on the industry over drug prices continues to intensify.

Continue Reading

Senate Democrats recently introduced the Stop Price Gouging Act

White, blank doctor's prescription pad with an orange prescription medication bottle lying on top of it with pills spilling out of the bottle.  The bottle has a blank label on it.  Tan colored pills lay on top of prescription.  A large "RX" is at the top left corner of the page. Pharmacy, healthcare, drugs, medicine concepts.  Desk, table, countertop.Senate Democrats recently introduced the Stop Price Gouging Act (S. 378), which seeks to place an excise tax on pharmaceutical companies in proportion to price spikes on prescription drugs.

The bill generally requires a company to justify to the Department of Health and Human Services (DHHS) any spike in prescription drug prices, but it is short on details regarding the criteria the inspector general of DHHS would have to abide by when analyzing the spike.

Continue Reading

Capitol Hill Healthcare Update

Below is this week’s “Capitol Hill Healthcare Update,” which is posted on Mondays when Congress is in session. Highlights this week: shutdown risk increases as talks stall; Gottlieb’s Hill testimony postponed; more bills targeting drug prices introduced; hearing focuses on bolstering ACA; and more. Continue Reading

LexBlog