SUMMARY: With much attention on the public’s view on Medicare drug price negotiations, the latest KFF Tracking Poll finds large majorities support allowing the federal government to negotiate, and this support holds steady even after the public is provided the arguments being presented by parties on both sides of the legislative debate (83% total, 95% of Democrats, 82% of independents, and 71% of Republicans).
SUMMARY: Pfizer will earn over 26 billion dollars from their COVID vaccine, while Moderna and J&J also look to their vaccines for more profit dollars. The suggestion by Pfizer’s CEO that drug pricing negotiations with the government would slow innovation is PR doubletalk.
- DTC marketing is not the reason why prescription drugs cost so much.
- DTC ads raise awareness around health conditions.
- DTC ads do NOT lead to unnecessary Rxs.
- The FDA needs to study what people do when they see a DTC ad.
- The February 2019 KFF Health Tracking Poll finds a majority of adults, including seniors, are in favor of many policy options aimed at curbing prescription drug costs.
- There is majority support – across party identification – for many current policy proposals like international reference pricing and transparency in drug advertisements.
- Both of these policy proposals are supported by large majorities of Democrats and independents, and a majority of Republicans.
- There is also bipartisan support for allowing the federal government to negotiate with drug companies to get a lower price for people with Medicare, which covers 60 million Americans.
IN SUMMARY: Novartis will price its new Mayzent multiple sclerosis drug at 88,000 dollars per year which is more proof that pharma companies could care less about the heated debate around drug pricing.
- Lilly says the net price for its Humalog insulin—the price after discounts and rebates—fell to an average of $135 a patient a month in 2018, from $147 in 2014. During the same period, the product’s average list price rose 51.9% to $594 per patient monthly.
- Lilly hasn’t raised the U.S. list price for Humalog since May 2017. U.S. sales of the drug rose 4% to $1.79 billion in 2018, which Lilly said was primarily driven by demand.
- Dug middlemen continue to take a huge chunk of prescription drug profits.
- American consumers regularly pay two to six times more for the same drugs as people abroad, but the United States spends some of the lowest amounts of its total healthcare on prescription drugs relative to other developed nations.
- By law, Medicare cannot engage in pharmaceutical negotiations for prices.
- PhRMA cites that on average, it takes more than 10 years and $2.6 billion dollars to bring a drug to market but these costs may be overstated.
- This administration doesn’t understand how our healthcare system really works.
- Employee’s are once again getting hit with more of the costs of their coverage in the form of higher premiums and higher deductibles.
- Health care premiums continue to take up more of employees’ paychecks.
- Just over a quarter of all covered employees are enrolled in policies with a deductible of at least $2,000, up from 22 percent last year and 15 percent five years ago.
- Worldwide obesity has nearly tripled since 1975, according to the World Health Organization. In 2016, more than 600 million adults were obese — or about 13 percent of the world’s population leading to a jump in cancer cases and other costly health conditions.