- Merck CEO Kenneth Frazier thinks something has to change within the pharmaceutical industry to fix the issue of drug pricing.
- [inlinetweet prefix=”” tweeter=”” suffix=””]”I don’t understand where we live in a world where 50% of the value goes to the supply chain,[/inlinetweet]” Frazier said at an event at the Economic Club of New York last week.
- Merck has published reports outlining the company’s average list and net price increases for its products. Merck’s average net prices after factoring in those discounts decreased by 1.9% in 2017 as list prices increased 6.6%.
- Lyrica has been a major source of revenue for Pfizer.
- The commercial success of this product was driven in large part by the 163% price increases in the last six years
Pfizer had filed and was issued patents for an additional twenty year period on a controlled-release formulation.
KEY TAKEAWAY: Research suggests that emerging technologies are shifting the composition of the care team. Consumers are increasingly using digital technologies to manage their own health, they are adopting virtual care, and they see the advantages of harnessing the collective power of humans and machines. (Source: Accenture) Continue reading
KEY TAKEAWAY: Big Pharma was handed a rare loss as Congressional leaders moved to pass the $1.3 trillion omnibus budget. Lobbyists for the pharmaceutical industry have been camped out on Capitol Hill this past month working legislators to change new policies tied to payment obligations attached to Medicare Part D, the so-called Donut Hole. The changes call for the financial liability covered by insurance carriers for prescription drugs not covered by Medicare to shrink, while that obligation rises for pharmaceutical companies. For drug makers, their share of discount rises from 50% to 70%. Lobbyists had been trying to push those numbers down to 60%. Continue reading
KEY TAKEAWAY: Accoring to the Economist, “EVERY year America spends about $5,000 more per person on health care than other rich countries do. With healthcare firms making excess profits of $65bn a year. Surprisingly, the worst offenders are not pharmaceutical firms, but an army of corporate healthcare middlemen”. However, the patient, stick in the middle of this debate, doesn’t care. Continue reading
I’m having a hard time understanding how anyone with a conscience could work for a company like Allergan. Transferring patents, rights to a native American tribe to try and circumvent the law and using DTC to market a drug that did nothing, according to JAMA but increase health care costs. Continue reading
KEY TAKEAWAY: According to Business Insider [inlinetweet prefix=”” tweeter=”” suffix=””]”the inability of giant Internet companies to keep illegal drug sellers off their sites shows that it’s not just fake news[/inlinetweet], hate speech, violent videos and foreign political propaganda that are overwhelming their content-filtering systems”. Another reason to avoid social media for pharma? Continue reading