Although managed care began with a focus on physician and hospital services, this focus has shifted in recent years towards prescription drug costs. This is partly because prescription drug spending has ballooned in the past 4 decades, as demonstrated in a congressional budget office report. For […]
US Hospital Spending Report: Remdesivir Takes the Lead
A recently spending report released by Vizient shows that Remsdesivir, the COVID-19 treatmetn by Gilead Sciences Inc, was the medicine hospitals spent the most on. The report, which details spending data from October 2020 to September 2021, reveals that the drug accounted for 3.42% of all member […]
Congress Pursuing Price Setting Measures that May Not Benefit Patients
In a new PhRMA article, Nicole Longo argues that Congress is starting off the year on a wrong foot with price-setting measures included in the Build Back Better Act (BBBA). She argues that the policies, if passed, would disincentivize research on medications after they’re approved, discourage […]
Michigan Attorney General Seeks Investigation Regarding Eli Lilly’s Exorbitant Insulin Prices
The Michigan Attorney General has asked the courts to approve a formal investigation into Eli Lilly’s excessive insulin prices. The state points out that the prices are having an inordinate impact on consumers in their state, with the average out-of-pocket price approaching $100. While Eli Lilly’s […]
States Can Help Lower Medicine Costs for Patients
Medicine costs for patients have spiked in the past few years, especially for patients with deductibles who often pay the list price for drugs their insurers are compensated for. In a recent PhRMA article, Scott LaGanga recommends several methods by which state legislatures can reduce medicine costs […]
Forbes: 2022 Economy, Politics, and Drug Pricing Legislation Predictions
In a Forbes piece published early this month, Joshua Cohen makes predictions about the economy, politics, and drug pricing reform in 2022. Cohen foresees a slow but steady economic recovery and a slight easing of inflation. He also predicts that the Democrats will cling to their House majority and […]
Pfizer, Gilead, and Vertex Raise Prices on Blockbuster Drugs
Major pharmaceutical companies are hiking prices on their blockbuster drugs for 2022. Pfizer is spiking the price of its cancer drug Ibrance by 6.9% and raising the cost of several other drugs by up to 10%. Vertex’s CF drug Trikafta will increase by 4.9%, a $15,000/year increase per patient. […]
Cancer Patients Save Money on Medication Due to ‘Skinny Labeling’
A new study finds that applying a ‘skinny label’ to the generic cancer drug Gleevec made the medicine available for more patients at a cheaper cost. Skinny labeling is the practice of getting approval for a generic for a specific purpose instead of the range of uses it is patented for. This allows […]
Integrated Prescription Discount Card Pricing Plan from Express Scripts
The new Right Price offering by Express Scripts automatically applies prescription discount card savings into the price at the point of sale. This program helps patients easily get the best price for their medications without extra effort, regardless of insurance status. Right Price is just one of […]
Drug Makers Raise Prices of Hundreds of Medications by 4.9% for 2022
Data from 46Brooklyn Research shows that drugmakers have raised the cost of 460 drugs by a median of 4.9%. These raises are similar to increases in the past three years versus the double-digit hikes seen previously. This more conservative approach comes in response to Americans' increasingly vocal […]
