Consider the Following: Save Bill Nye, wear a mask. Welcome to the Week In Review.
1. Yet Another Round of Hikes
- In the middle of a pandemic, pharmaceutical companies hiked the prices of 42 drugs, including important medications for conditions like heartburn, respiratory illnesses, and ADHD. Millions of Americans have lost their jobs and health insurance and are forced to pay even higher prices — all while pharma continues to line their pockets. — (Politico)
2. More Taxpayer Funds for Pharma
- The U.S. government signed the largest Operation Warp Speed contract yet with a commitment of $1.6 billion to Novavax for its potential COVID-19 vaccine. The same day, the government announced a $450 million contract with Regeneron, its first Warp Speed contract for a COVID-19 treatment. As American taxpayers continue to fund these important drugs, we need Congressional action more than ever to ensure we won’t pay twice for COVID-19 treatments and vaccines. — (Reuters)
3. Transparency Law Shows Skyrocketing Prices
- A new report, required each year thanks to a 2017 Nevada prescription drug price transparency law, revealed that nearly 120 essential diabetes drugs have seen a significant price increase in the last two years. The average price hike in 2019 was 11.2 percent. This report proves once again that, when left unchecked, drug companies will keep raising prices as patients suffer. — (The Nevada Independent)
4. Novartis Sales Rep Blows Whistle
- A former Novartis sales representative shone a federal spotlight on the pharmaceutical giant’s practices of bribing doctors with lavish parties, appealing speaker series, and large gift cards to prescribe its drugs. An investigation led by the Department of Justice revealed that Novartis made at least $40 million off the tactics. To no one’s surprise, pharma will do anything to earn another buck. — (NBC News)
5. Held Hostage by Big Pharma
- As the United States continues to face the devastation of the COVID-19 crisis, the need for a vaccine only grows. The federal government has invested billions into pharmaceutical companies’ research and development of vaccines for the virus, but there are no guarantees that they will be priced fairly. We need drug pricing reform now. — (Kaiser Health News)