For Wall Street types, the most noteworthy aspect of the State of the Union was what the president didn’t mention: his promised International Pricing Index demonstration. However, they still think there is a good chance that the administration will propose the demonstration, which would tie Medicare Part B drug prices to those overseas. “[I]t appears that the administration had made a late-in-the-day decision to downplay drug pricing in the SU given pre-SU polling indicating elevating the issue would hurt the...