Are “massive” drug price cuts around the corner? Novartis raises drug prices. And the CREATES Act jumps a key hurdle.
Welcome to the week in review in prescription drug prices.
1. Negotiating price cuts?
Pharma CEOs coughed on their champagne when President Donald Trump said that major drugmakers would announce “massive” drug price cuts in mid-June. HHS officials have been making calls and meeting with pharma to push for price cuts. The government negotiating with drug companies is a good thing. Time for Medicare to do the same. — (The Hill)
2. Eli Lilly CEO says patients are “suffering”
If only he were the CEO of a major drug company who could do something about it. — (MSNBC)
3. Novartis raises the roof drug prices
Drug giant Novartis raised the prices of four drugs: Promacta, Mekinist, Tafinlar and Kisqali. If you’re keeping track, Novartis previous raised the price of Promacta in January.— (Politico)
4. CREATES jumps a key hurdle
Members of the Senate Judiciary Committee voted 15-6 to move forward the CREATES Act, a bill to police abuses by brand-name drugmakers that stall generics from hitting the market. The forward movement marked a small and rare victory for patients from the nation’s capital. Kudos to Chairman Grassley and Senator Leahy for their leadership. — (STAT)
5. This is not what we meant by transparency in drug pricing
BIO conference guests are partying with topless dancers while everyday Americans can’t afford their prescription drugs. So there’s that. — (Washington Examiner)
Have a great weekend!