June 3, 2005 In the next few weeks, Medicare is expected to announce its 2006 reimbursement schedule. The CMS (Center for Medicare and Medicaid Services) will probably implement a proposal that it floated earlier this year, one that calls for a competitive acquisition (CAP) reimbursement system for Medicare Part B drugs in 2006. This will have a short-term effect on biotech stocks, but we think there is another pricing issue out there which, long-term, will have a more profound impact...
