Swift Kennedy Healthcare News Recap 1/10/25

Medical Debt Set to be Removed From Credit Reports

On Tuesday, the Consumer Financial Protection Bureau (CFPB) finalized a rule that is set to remove around $49 billion in medical bills from roughly 15 million Americans' credit reports.

The CFPB's initiative will eliminate the inclusion of medical bills on credit reports utilized by lenders and will prevent lenders from considering medical information when making lending decisions.

The regulation is designed to enhance privacy safeguards and prevent debt collectors from exploiting the credit reporting system to pressure individuals into paying bills they do not owe.

The rule will take effect 60 days following its publication in the Federal Register.

Aetna Sues Drug Manufacturers for Price Inflation

Aetna has initiated legal action against nearly twenty drug manufacturers, claiming they conspired to inflate charges for generic medications.

The lawsuit, submitted late last month in Superior Court in Hartford, Connecticut, alleges that pharmaceutical giants like Pfizer and Teva Pharmaceuticals engaged in covert communications and meetings to manipulate the prices of specific generic drugs, resulting in increased costs for insurers, patients, and the government.

According to Aetna's lawsuit, this conspiracy undermined competition in the generic drug market, causing prices to soar, with some medications rising by over 1000%.

In addition to Teva and Pfizer, the lawsuit also names several other pharmaceutical companies, including Actavis Pharma, Amneal Pharmaceuticals, Apotex, Aurobindo Pharma, Breckenridge Pharmaceutical, Dr. Reddy’s Laboratories, Glenmark Pharmaceuticals, Greenstone, Lannett, Lupin Pharmaceuticals, Mylan Pharmaceuticals, Novartis, Sandoz, Taro Pharmaceuticals, Upsher-Smith Laboratories, Viatris, Wockhardt, and Zydus Pharmaceuticals.