OK, I get it. Prescription drug prices are too high, but before we send out a lynching party, perhaps we had better look at the real reason healthcare in America costs us too much.
KEY TAKEAWAY: Drug prices, and big pharma, are going to be squarely in the crosshairs of big pharma in the next general election. He echoes the sentiments of a lot of the American Public and you can bet that insurers, as well as politicians, are going to do something about it to win votes. Continue reading
KEY TAKEAWAY: Biopharma can’t just read about high drug prices in media stories, employees need to get out and listen to patients talk about how it’s affecting their treatment choices and limiting the quality of life THEY want. Continue reading
KEY TAKEAWAY: Physicians are increasingly becoming more upset at pharma for the cost of drugs and it’s not just branded drugs, it’s generic drugs as well. Continue reading
POST SUMMARY: According to IMS, spending on medicines rose 13.1% on a nominal basis – and 10.3% on a real per capita basis – driven by innovation, higher levels of price increases and lower patent expiry impact. Will pharma continue this trend and is this a green light for more expensive drugs? Continue reading
POST SUMMARY:Via the WSJ: The first of a promising new class of cancer drugs went on sale in Japan this week at an average annual cost of $143,000 a patient, a harbinger of hefty prices the new drugs are expected to command in the U.S. and Europe in coming months. Bristol-Myers, which plans to market nivolumab in the U.S. if the FDA clears it for sale, declined to say how much it will charge. A spokeswoman said the company prices its medicines based on “the value they deliver to patients and society, the scientific innovation they represent and the investment required to support” drug research-and-development. Continue reading
POST SUMMARY: (via Boston Globe) Fewer than 4 percent of patients use specialty drugs, but they account for 25 percent of total drug spending. “The impact of the specialty tier benefit design falls disproportionately on patients who are living with diseases and conditions that are serious and life-threatening,” said Marialanna Lee, Northeast Region state government affairs director for the Leukemia & Lymphoma Society. Often the specialty drug is the only one available for these conditions, she said. “It’s going to cost more in the long run,” predicts Patricia Ferland Weltin, executive director and founder of the Rare Disease United Foundation. If denied drugs that keep them well, she says, “They’re going to end up in the E.R, they’re going to end up sick, costing more money than if they took the drug. . . . Continue reading