ASCO: Oncology drug prices expected to increase 20% per year for next seven years

KEY TAKEWAY: Per ASCO “specialty medications accounted for 37% of drug spending in 2015, and projections are that they will account for 50% of all drug spending by 2018. Oncology drug pricing is expected to increase at a rate of 20% per year for the next several years. Health care expenditures, including drug costs, have become a major cause of personal bankruptcy, and financial toxicity has become a common term used to describe the financial distress that accompanies the treatment of patients with cancer”.  Continue reading

Diabetes was the condition with the greatest increase in spending

Diabetes sweet on plate

KEY TAKEAWAY: Health care spending in the United States increased by about $933.5 billion between 1996 and 2013, according to an analysis published Tuesday in the medical journal JAMA. Diabetes was the condition with the greatest increase in spending, rising by $64.4 billion between 1996 and 2013. Most of this money went to pharmaceuticals prescribed to treat it. Continue reading

We need prescription drugs to compensate for poor lifestyles

KEY TAKEAWAY: Nearly 40% of adults and 19% of youth are obese , the highest rate the country has ever seen in all adults, according to research released Friday by the National Center for Health Statistics.  This, of course, means that the public is going to be more dependent on prescription drugs to maintain their health at the same time they complain about big pharma. Continue reading

Celgene proves pharma greed is alive and well

KEY TAKEAWAY: A report found that 27 percent of cancer survivors or close relatives of a cancer patient said they’d skipped doctor visits or taken other steps to reduce health costs.  Yet, according to Fierce Pharma  “defying critics in Congress and elsewhere, Celgene hiked the list prices of key cancer meds Revlimid and Pomalyst by 9% this month, taking their cumulative increases for the year to nearly double the range that many Big Pharma peers have pledged to avoid”.  Continue reading