GLOBE, GUARD, and weighing the “most-favored nation” coal in the drug industry’s stocking

The GLOBE and GUARD mandatory Medicare drug pricing models proposed by CMS on December 19th shift the rebates companies pay CMS from “don’t raise prices faster than inflation” to “don’t raise prices higher than the rest of the developed world, on a GDP/capita-adjusted basis.” This will be damaging to biopharma innovation if implemented broadly.