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Matt Iles

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  1. Milken Institute42 min

    Walking the Drug-Pricing Tightrope: Fostering Innovation While Maintaining Affordability

    Dan Diamond, Matthew Eyles, Dan Leonard, Mark McClellan, Seema Verma, Greg Walden, Matt Iles

    Moderated by Dan Diamond, a panel comprising Seema Verma, Matt Iles, Dan Leonard, and Mark McClellan examined the unsustainability of U.S. drug spending and the urgent need for bipartisan legislation to address the "gross-to-net" price bubble and the rising cost of ultra-high therapies. While the group agreed that current payment models create perverse incentives for manufacturers of legacy drugs and antimicrobials, they diverged on solutions, with CMS advocating for private sector competition and industry representatives emphasizing the risks of government price-setting on research and development. The discussion concluded that structural reforms, including value-based arrangements and targeted regulatory changes to Medicaid Best Price rules, are essential to align reimbursement with modern cure cycles before the projected 2026 spending crisis forces administrative intervention.

  2. Milken Institute47 min

    Wednesday Lunch: Walking the Drug-Pricing Tightrope

    Dan Diamond, Dan Leonard, Seema Verma, Matt Iles, Mark McClellan

    Moderated by Dan Diamond, the Milken Institute's Future of Health Summit panel "Walking the Drug Pricing Tightrope" featured Seema Verma, Matt Iles, and Mark McClellan debating the tension between innovation and affordability amidst record-breaking drug costs. While the group reached consensus on shifting to value-based payment models to address unsustainable spending in Part B and high-cost curative therapies, they diverged on whether government negotiation or private sector competition offers the most effective solution for lowering prices without stifling future research. With Nancy Pelosi absent, the panelists emphasized that any viable legislative path must satisfy strict bipartisanship requirements to avoid jeopardizing patient access or long-term drug development pipelines.