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Would a congressional bill designed to jump-start medical innovation end up lowering standards for approving new uses of existing medicines? Consumer advocates are raising this concern about the 21st Century Cures legislation, which passed the House Energy and Commerce Committee unanimously last week and, in part, is designed to reform the approval process for drugs. Supporters say the bill is a long overdue move that, among other things, will give the FDA the tools to ensure treatments reach patients faster. (Silverman, 5/28)

A new study that compares drug prices in four countries finds that "pharmaceutical prices in the United States are extraordinarily high and have contributed to an unsustainable level of spending on drugs." (Lauer, 5/28)

In the summer of 2014, biotechnology company Amgen seemed to be on the verge of a breakthrough with an injectable anti-cholesterol drug. ... As positive results came out of Amgen’s labs, the price of another drug shocked the health insurance industry: Sovaldi, a hepatitis C cure that its manufacturer, Gilead Sciences, initially priced at $84,000 for a 12-week course. Express Scripts, the biggest pharmacy benefit manager (PBM) in the country, balked at the cost. It eventually refused to include Sovaldi in its 2015 formulary .... That taught Amgen and other drugmakers a lesson. Avoiding hostility with insurers and PBMs is now a paramount industry goal. (Weintraub, 5/28)

Fred’s Inc. swung to a loss in its first quarter as the discount retailer’s pharmacy business struggled with lower Medicare reimbursements and higher generic drug costs. The Memphis, Tenn.-based company said slow reimbursements, reimbursement rate reductions associated with preferred Medicare Part D networks, and inflation in generic drugs pressured its pharmacy segment during the quarter. (Beilfuss, 5/28)

When prices are falling, apply a little pressure. Tougher pricing for hip and knee replacements helped prompt cost-cutting consolidation in the medical-equipment arena. Zimmer last year agreed to buy Biomet. Stryker also cast an eye over the U.K.’s Smith & Nephew . (Thomas, 5/28)