SUMMARY: From the prices of medications to the choice of doctors and treatments the idea that people are “consumers of healthcare” is a canard. The fact that we don’t have control is one reason why Gallup reported that so many people are unsatisfied with the state of healthcare in the U.S.Continue reading
- The global insulin market is dominated by three companies: Eli Lilly, the French company Sanofi and the Danish firm Novo Nordisk.
- In the past decade alone, U.S. insulin list prices have tripled, according to an analysis of data from IBM Watson Health
- According to IBM Watson Health data, Sanofi’s popular insulin brand Lantus was $35 a vial when it was introduced in 2001; it’s now $270. Novo Nordisk’s Novolog was priced at $40 in 2001, and as of July 2018, it’s $289.
- Stories of people rationing insulin and dying as a result continue to appear in the media.
- Lilly has decided to inform patients about the list price for Trulicity on their website.
- The information may add to patient anger and raise more questions.
- What makes a drug worth $8000 a year and who get’s the money?
- According to JAMA “annual health care
marketingsurged from $17.7 billion in 1997 to at least $29.9 billion in 2016, driven by a rapid spike in spending on direct-to-consumer (DTC) advertisements for prescription drugs. Over this period, DTC spending climbed from $2.1 billion to $9.6 billion.
- The most rapid increase was in direct-to-consumer (DTC) advertising, which increased from $2.1 billion (11.9%) of total spending in 1997 to $9.6 billion (32.0%) of total spending in 2016. DTC prescription drug advertising increased from $1.3 billion (79 000 ads) to $6 billion (4.6 million ads [including 663 000 TV commercials]), with a shift toward advertising high-cost
biologicsand cancer immunotherapies.
- Even if all prescription drugs were free healthcare costs would still be increasing.
- While there is no excuse for the price increases on some drugs, like insulin other price increases are not aimed at consumers. They are aimed at PBM’s and insurers who are seeing their profits increase at a rapid rate.
- Americans are among the most unhealthy in the world.
- Millennials are so
overweight,it has them on pace to be part of the most obese generation in history.
- Pharma is starting 2019 with a slew of price hikes, affecting more than 1,000 medications.
- The average increase amounts to about 6 percent.
- Price increases do not directly translate to increased profits. Most of the increases are on list price, or wholesale acquisition cost and are lost through a competitive rebating and contracting process with insurers, pharmacy benefit managers and the government, among others.
- Avoiding bacon and alcohol could help reduce the risk of cancer up to 40%, experts suggested as they unveiled what has been dubbed the “blueprint” to beat the disease.
obesitylikely to overtake smoking as the “number one risk factor for cancer” within decades.
- There is now strong evidence excessive weight is the cause of at least 12 cancers, five more than when the last WCRF recommendations were published in 2007.