KEY SUMMARY: For years, businesses have responded to rising health care costs primarily by shifting more of those costs onto their employees, through higher deductibles and other cost-sharing. The average deductible is now 212% higher than it was in 2008. Employers cover more people than any other insurer and account for about 20% of all health care spending — almost $700 billion in 2017. With rising, costs companies may decide to form their own health insurance organizations.Continue reading
KEY TAKEAWAY: While patients are going online to research new drugs and treatments, pharma websites are becoming a less important part of the decision making. DTC marketers need to focus more on digital and less on TV.Continue reading
KEY TAKEAWAY: As big pharma gets bigger, the one challenge they have mastered is the reduction in administrative burdens they place on managers and employees.Continue reading
- Richard Gonzalez, C.E.O. of AbbVie, told a congressional hearing that his pay was tied to the price of the company’s drug for rheumatoid arthritis and other conditions, Humira.
- The annual per-patient cost of Humira doubled between 2012 and 2018 to $38,000.
- In 2016 the $3.3 billion spent on the drug by Medicare and Medicaid accounted for 31 cents of every dollar spent on Humira in the U.S.
- A month’s supply of Truvada costs roughly $6 to make and sells for more than $1,600 in the United States.
- Truvada was developed largely with taxpayer dollars.
- Gilead has earned $36.2 billion on Truvada since 2004, according to its annual reports.
KEY TAKEAWAY: 71% of healthcare professionals believe that people with obesity are not interested in losing weight. “Obesity is one of the most complex, chronic health challenges faced by our society today, yet the current approach to obesity management falls short compared to other similar chronic diseases,” commented Professor Ian Caterson, ACTION IO lead investigator and foundation director of the Boden Institute at the University of Sydney.Continue reading
IN SUMMARY: I have been critical of big pharma because they keep their loyalty to Wall Street instead of patients. When the really good people within the industry learn to take risks and be heard the industry might change.Continue reading