Stephen J. Ubl

340B was meant to help patients, not pad hospital profits. Today, some nonprofit hospitals are using the program to mark up medicines dramatically, while patients face higher costs. If patients aren’t benefiting, where is the money going? Washington should fix 340B.

It’s become increasingly clear that the 340B program is being exploited by tax-exempt hospitals and clinics and that patients are not benefiting. A new @WSJ editorial raised questions over how hospitals are exploiting the program, with “some of the wealthiest hospitals in the U.S. qualifying” without a requirement that patients benefit. wsj.com/opinion/340b-d…

Yesterday at the @axios Future of Health Summit, I spoke with @mayagoldman_ about why MFN policies won’t fix the real drivers of high drug costs in the U.S. To lower costs, we need to address the three main distortions in America's marketplace: 1. American patients are shouldering the cost of innovation—paying a 26% premium to drive innovation—while other countries underpay and free ride on that American investment. 2. We need to rein in PBMs. PBM fees alone can be 7x the price of a drug in a market outside the U.S. 3. We need 340B reform. Hospitals can buy a drug for a penny and mark it up 1,000%. Then that arbitrage flows to their bottom line rather than to patients. Importing foreign prices through MFN is a flawed approach that doesn’t address the structural issues in our system. If we’re serious about lowering costs for patients, we need to fix these distortions. #AxiosFOH

A PhRMA report finds patients in other high-income countries have access to just 36% of new medicines, compared to 88% in the United States. As policymakers debate the future of health care, we must support policies that strengthen innovation, medical progress and the development of future cures. ow.ly/q7yq50YZbYW

.@EliLillyandCo's new $4.5B investment in Indiana manufacturing highlights how America’s biopharmaceutical companies are advancing innovation, strengthening U.S. manufacturing and supporting jobs nationwide. investor.lilly.com/news-releases/…

American leadership in medicine only matters if the cures we discover actually reach the people who need them. It is time for a system that prioritizes patient outcomes over middlemen profits. ow.ly/VWrX50YYfxB

If we want the U.S. to remain the global leader in life sciences, we need to act now. That means more efficient clinical trials, fewer barriers from PBMs and insurers and policies that support continued investment in innovation. The decisions we make today will determine whether America leads or falls behind. #InvestInAmericaForum #cnbcevents

A @nytopinion piece makes clear that hospital prices and consolidation are major drivers of rising health care costs. Hospital prices are the leading driver of a 320% increase in premiums over 25 years, growing 3x faster than inflation and 2x faster than Rx drugs and doctor visits. Addressing affordability means examining the full system, including hospital market power and the 340B hospital markup program. nytimes.com/2026/05/04/opi…

Nearly $2 billion in U.S. manufacturing investment in just one year is a strong signal that biopharmaceutical innovation at @Amgen is driving jobs, supply chain resilience and patient access here at home. That kind of progress depends on policies that support innovation and investment. Without them, we risk losing ground in a global race for medical leadership. The choice is clear: Strengthen the U.S. innovation ecosystem or fall behind. amgen.com/newsroom/press…

Innovation starts here at home. @NovartisUS is expanding its U.S. footprint with its seventh new U.S. facility, part of a $23B investment in manufacturing and R&D to strengthen how medicines are delivered to patients, all here in America. Investments like this help ensure faster access to new treatments support American jobs and reinforce U.S. leadership in medical innovation. novartis.com/us-en/news/med…

We conclude our #WorkingforCures Champion series with Jeannette Novatski from @UCBUSA. Jeannette is a member of @npcnow and helps shape the national health policy research agenda, ensuring that research is rigorous, stakeholder-aligned and impactful across the health care ecosystem. Amazing work, Jeanette, and congratulations.

Today, health system CEOs testify before the Ways & Means Committee. What's sure to be on the agenda: hospital consolidation. It isn't just a market trend – hospital consolidation is fueled by perverse incentives in the 340B program. Get caught up here: phrma.org/blog/a-program…

Over the last 30 years in the U.S., childhood vaccines have prevented more than one million early deaths. That’s what a strong innovation ecosystem delivers for patients and families. phrma.org/blog/world-imm…

This week, we recognize our #WorkingforCures Champion from @Pfizer, Navin Katyal. Navin works to educate policymakers on the importance of removing barriers to help ensure innovative companies can achieve breakthroughs that improve patients' lives. Thank you, Navin, and congratulations.

As the #340B program grows, so does the need for strong safeguards. A rebate model is a commonsense step to improve transparency, prevent duplicate discounts and build accountability into the system while protecting patient access and supporting safety-net providers. phrma.org/blog/modernizi…

Yesterday, I joined @shawnzeller at the @POLITICOLive Health Care Summit to discuss what’s at stake for patients and the future of biopharma. We need to push other countries to pay their fair share and also fix misaligned incentives, including PBMs and 340B. #POLITICOHealth

The @washingtonpost editorial board is clear: The #340B program has drifted far from its original mission. What was meant to help vulnerable patients too often functions today as a revenue stream for large hospital systems, driving higher costs for everyone else. It’s time for reforms that restore 340B as a true safety‑net program. Read more: washingtonpost.com/opinions/2026/…

The U.S. biopharmaceutical industry is a crown jewel of the American economy and a cornerstone of our global competitiveness and national security. U.S. leadership delivers faster access to medicines, high‑value jobs and stronger national security. We cannot afford to become dependent on other countries for the next generation of treatments and cures. Read more about my conversation with @CNBC's @Cline_Woods: phrma.org/blog/cnbc-main…

Meet our #WorkingforCures champion from @NovartisUS, Matthew Baca. Matt is a key member of the Novartis radioligand therapy manufacturing team and has engaged policymakers to showcase the industry’s growing and innovative advanced manufacturing work in the US. Congratulations, Matt!