Hello! I’m thrilled to be joining P4ADNow and all of you in the fight to lower drug prices.
Welcome to the Week in Review.
- It’s Official: Secretary Becerra
- In a win for patients facing high prescription drug prices, Xavier Becerra was confirmed as the secretary of the U.S. Department of Health and Human Services on Thursday. Secretary Becerra has been clear and consistent in his commitment to lower drug prices, and we look forward to working with him to ensure that medications are accessible and affordable for all. — (Endpoints News)
2. Winning The Battle In Minnesota
- Minnesota successfully defended its insulin affordability law, which provides free insulin to diabetes patients unable to afford the high prices, against a suit brought by industry trade group PhRMA. The law is named after Alec Smith, who died after rationing his insulin supply. Now that an insulin safety net has been established, lawmakers must continue the fight and pass legislation to lower list prices for all. — (MinnPost)
3. The Price Is Never Right
- AbbVie CEO Richard Gonzalez netted a compensation package of $24 million last year, during a pandemic, as the company exceeded its revenue targets. This is an increase of 11 percent from 2019. AbbVie continues to hike the price of its blockbuster Humira, the best-selling drug that famously generates more revenue each year than the entire NFL. When pharma executives are incentivized to meet earnings targets for higher bonuses, the result is an endless cycle of price gouging. — (FiercePharma)