Price hikes are coming up fast, and we’re furious that Big Pharma’s bad behavior has lasted way longer than this movie franchise.
Welcome to the Week in Review.
- The Principal Principle: Medicare Negotiation
- On Tuesday, Senate Finance Committee Chairman Ron Wyden released his Principles for Drug Pricing Reform, and topping the list is Medicare negotiation. The senator also calls for extending drug pricing reforms to all Americans and including provisions to incentivize innovation. We are grateful for Chairman Wyden’s leadership and look forward to working with him and the Senate Finance Committee to expand on these principles in legislation that will bring relief to millions of patients. — (The Hill)
2. Don’t Be Fooled
- P4ADNow released a new video this week exposing how Big Pharma’s focus on lowering out-of-pocket prescription drug costs will only shift the way Americans pay for pharma’s high prices. It’s clear that Congress must focus on legislation like H.R. 3 that lowers list prices set by Big Pharma to bring patients real relief. “If we take less money out of this pocket without lowering list prices, pharma will take more money out of that pocket by way of higher premiums and taxes,” the animated video says. “With H.R. 3, patients keep more money in their pockets.” — (P4ADNow)
3. Path Emerges For Drug Price Reform
- With a bipartisan infrastructure compromise struck, the path for drug pricing reform is coming into view. House leadership has been clear that they intend to include Medicare negotiation bill H.R. 3 in their spending package, and Senate Finance is busy working on their own comprehensive drug pricing bill for inclusion. Patients stand ready to ensure that the final reconciliation bill includes legislation to allow Medicare to negotiate lower drug prices on behalf of Americans. — (The Washington Post)
4. Aduhelm Spending May Rocket Above NASA
- Government spending on Biogen’s new Alzheimer’s drug Aduhelm, which may cost Medicare and Medicare enrollees as much as $29 billion in a single year, could surpass spending on major programs such as NASA and the CDC. With a price tag for each patient of $56,000 a year, Aduhelm will break the bank for taxpayers, employers, insurers, and patients. This week, both employer and insurer groups expressed concern over Aduhelm’s high list price. It’s clear the drug’s outrageous price is a symptom of a broken drug pricing system. Congress must empower Medicare to negotiate lower drug prices. — (The New York Times)
5. Price-Fixing Ploys
- Teva Pharmaceuticals will pay $925,0000 to settle a case in Mississippi where the company is accused of conspiring with other drug corporations to fix prices of generic drugs. But that’s not all: Teva is also in the midst of settlement discussions with a number of other states and is facing a separate federal charge for price fixing. Another egregious example of Pharma doing anything to cash in. — (FiercePharma)