KEY TAKEAWAY: Large majorities of Republican, Democratic and independent voters say they would be more likely to vote for candidates in this year’s midterm elections who are committed to bringing down the cost of prescription drugs according to a poll released last week by the Kaiser Family Foundation (KFF). Yet companies like AbbVie raised prices of drugs and are blocking generic versions of their medications. Change is coming, but too many pharma CEO’s are still too subservient to Wall Street. Continue reading
(PhRMA) president and CEO Stephen J. Ubl issued the following statement on President Donald Trump’s drug pricing blueprint: “These far-reaching proposals could fundamentally change how patients access medicines and realign incentives across the entire prescription drug supply chain. While some of these proposals could help make medicines more affordable for patients, others would disrupt coverage and limit patients’ access to innovative treatments”. Folks, that is chutzpah. Continue reading
- The drug industry cannot continue to do business “as usual” and ignore the concern about drug prices.
- Prices of many of the most popular brand-name drugs increased at nearly ten times the cost of inflation from 2012 to 2017.
- At least 28 million Americans have experienced a spike in the cost of their prescription medications in the past 12 months.
- 67% of drug companies increased their annual profit margins during between 2006 and 2015—with margins up to 20 percent for some companies in certain years.
- None of the studies showed patient improvements in quality of life, blood pressure, weight, or body mass index. More rigorous and longer-term research studies could determine whether apps help people manage their diabetes and reduce complications.
- Some apps for diabetes self-management may improve outcomes in the short-term, but the effect cannot be distinguished from the concomitant effect of additional support from a health care provider.
KEY TAKEAWAY: “Big data is the driving force behind industry 4.0. “Leveraging big data is the key to ensure that we can serve the patient, make sure they have the right drug product that it is personalized to them, but also that we as an industry have controls. (PwC’s Scott Lawson) I’m not so sure Continue reading
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 IDEA: Agencies make a lot of money from pharma companies, but they can no longer to afford the industry we love be dragged down by companies that continue to make decisions. We have to be honest and open and tell pharma that they continue to dig deeper holes even as they talk about being patient centric. Continue reading