If price hikes were an Olympic event, pharma would take gold, silver, and bronze.
Welcome to the Week in Review.
1. Putting The Brakes On Patent Abuse
- In a unanimous, bipartisan vote, the Senate Judiciary Committee passeda package of four bills that would lower drug prices by addressing anticompetitive behavior from drug companies. The bills would curb patent abuses by designating product hopping, pay-for-delay deals, and sham citizen petitions as anticompetitive. We applaud the committee for protecting true innovation at prices patients can afford by advancing these bills, urge the Senate to pass the package, and call on Congress to continue the important work of lowering drug prices for Americans by allowing Medicare negotiation. — (P4ADNow)
2. 100 Years Later, A $100 Biosimilar
- In the same week that the world marked 100 years of insulin, the FDA approved Semglee, the first interchangeable biosimilar to the long-acting insulin Lantus. It’s a step in the right direction, but Semglee’s $98 price tag still represents a 2,000 percent markup from a manufacturing cost of $4.50. We must ensure that all patients who depend on insulin have access to affordable medications by building a system that delivers reasonable profits and incentivizes competition for all forms of insulin. — (Axios)
3. Rep. Peters’ Flip Flop: Unforgivable
- Back in 2019, Rep. Scott Peters (CA-52) supported H.R. 3, a bill that would allow Medicare to negotiate drug prices. But two years later, the congressman is now an outspoken opponent of the landmark legislation. Rep. Peters has filled his pockets with Big Pharma money and is actively opposing reform that would deliver much-needed relief to millions of patients across the country. Simply put, that’s unforgivable. — (Salon)
One more thing: This week, members of Congress highlighted pharma’s July price hikes and the need for Medicare to negotiate lower prices. Check it out here.