Prescription drug pricing is out of control

  • The cost of insulin more than tripled — from $231 to $736 a year per patient — between 2002 and 2013.
  • A new marijuana-based epilepsy treatment is going to cost $32,500 a year.
  • “The goal is to keep the price of the drug on par with other epilepsy medications”.
  • PBM’s are driving hard bargains with the manufacturer and they are increasingly finding ways to expand their profitability at the expense of employers and patients.

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Drug Costs: How high can they go?

8532826-a-prescription-pill-bottle-with-rolls-of-cash-in-it--concept-or-metaphor-for-cost-of-drugsPOST 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