- President Donald Trump in May said that drugmakers would soon announce “massive” price cuts but they aren’t in the loop.
- Bayer raised the price of two cancer drugs by hundreds of dollars in May and Novartis followed by boosting four pricey treatments in June. [inlinetweet prefix=”” tweeter=”” suffix=””]Pfizer, one of the largest U.S. pharma companies, announced increases on more than 41 products this week.[/inlinetweet]
- [inlinetweet prefix=”” tweeter=”” suffix=””]A Wells Fargo report found 104 price increases in June and the first two days of July[/inlinetweet], with an average jump of 31.5 percent and a median increase of 9.4 percent. That followed 48 increases in May.
KEY TAKEAWAY: Mr Trump’s plan to curtail drug prices was long on slogans and short on substance. To understand who the winners were just follow the money via Wall Street.
KEY TAKEAWAY: The pharma industry’s top trade group on Tuesday launched a new series of ads as part of its drug pricing campaign aimed at blaming cost increases on insurers and pharmacy benefit managers. However, it’s trying to bail water from a sinking ship. Continue reading
As more and more pharma and biotech companies invest more money in digital marketing one has to wonder if they can attract digital talent in a regulated industry. Continue reading
From JAMA: “[inlinetweet prefix=”” tweeter=”” suffix=””]Although prices are often justified by the high cost of drug development, there is no evidence of an association between research and development costs and prices[/inlinetweet]; rather, prescription drugs are priced in the United States primarily on the basis of what the market will bear”. And I guess most pharma executives believe the market can bear a lot more. Continue reading
KEY IDEA: The objective of DTC marketing is, and will always be, to generate new Rx’s for the product. While the idea of bringing patients together in community and sharing information is a good one too many drug companies are not willing to take the risk(s). Continue reading