The Week in Review in Prescription Drug Pricing
Similarities of corn and affordable drug prices? We really love it. I mean look at this thing! It has the juice! It should be affordable. We can tell you all about it!!!
Welcome To The Week In Review.
1. Success Sinking In
- We’re still buzzing about the millions of patients who will benefit from the drug price reforms in the Inflation Reduction Act that became law last week. Older women, in particular, will feel the relief of the reforms as they typically take more prescription medications than men. The provisions will disproportionately help Black and Latino seniors who are twice as likely to have difficulty affording their medications than white Americans; in particular, the $35 insulin copay cap will be beneficial to these communities as diabetes is more prevalent in Black and Latino adults than in white adults. Big Pharma and its allies are up to the same nonsense, continuing to spew misleading claims about these historic reforms. But patients know better than to believe the lies. Contrary to pharma’s fearmongering, the legislation will save the federal government billions and many seniors thousands of dollars a year. Patients are clear: The Inflation Reduction Act will lower prices of and increase access to vital prescription drugs many seniors depend on. — (Forbes, Washington Informer, New York Times)
2. Top Officials Tout New Drug Price Reforms
- Top officials in the Senate, House, and Biden Administration are celebrating the passage of the new drug price provisions in the Inflation Reduction Act and sharing with voters how the provisions will help them. President Biden highlighted the stunning defeat of the powerful pharmaceutical industry: “For decades, Big Pharma won but not this year! The American people won and Big Pharma lost!” Rep. Abigail Spanberger from Virginia emphasized the significance of the drug price reforms saying, “For the people who are most directly impacted, it’s life changing.” Senate Health, Education, Labor, and Pension Committee Chairwoman Patty Murray and Rep. Kim Schrier touted the legislation, which is expected to reduce prescription drug costs for 1.4 million people in Washington state alone. “To be able to pass the Inflation Reduction Act and actually make real changes that are coming soon and to give people some hope, to me, is just one of the best things we’ve been able to do this year,” Senator Murray shared. On Thursday, Centers for Medicare & Medicaid Services Administrator Chiquita Brooks-LaSure, who will be key to the implementation of the drug price provisions, told stakeholders, “It is truly a historic moment as we drive toward our vision of equitable, affordable healthcare coverage.” In Pennsylvania, Reps. Brendan Boyle and Dwight Evans held an event emphasizing how the Inflation Reduction Act “will make such a difference” to patients in their districts. At a roundtable about lowering prescription drug prices, Health and Human Services Secretary Xavier Becerra noted that the drug price provisions will, “pass along a lot of savings to many Americans who need it at this particular time.” The work to lower drug prices isn’t over, and Senator Catherine Cortez Masto reaffirmed her commitment to continue to take on Big Pharma at a roundtable she hosted this week in Las Vegas. She said, “To the extent that the pharmaceutical companies try to skirt the law and still try to make a profit off the backs of so many, we’re going to continue to introduce legislation in order to stop that.” We are grateful that top government officials are spreading the word about how the Inflation Reduction Act delivers relief to Americans from high prescription drug prices. — (Your Erie, Post Independent, P4ADNow, Axios, My Northwest, The Reflector, Northeast Times, KCRA, Las Vegas Review-Journal)
3. Opinions: Americans Express Gratitude For Lower Drug Prices
- Americans across the country are sharing their stories and gratitude for the positive impact the new drug price provisions in the Inflation Reduction Act will bring to their communities. Vincent DeMarco of Maryland Health Care for All! Coalition and Lynn Heller from the Climate Access Fund celebrated the bill for delivering health benefits that lower drug costs. For many Medicare recipients, including a retired police officer who lives with Parkinson’s disease, the legislation will mean thousands of dollars in savings. Gail deVore of Colorado, a type 1 diabetic, wrote how the Inflation Reduction Act “finally reins in Big Pharma’s greed and drives down drug prices for millions,” and advocated for continuing the fight by lowering the price and cost of insulin for all patients who need it. Gene Faltus, from New Hampshire, is another patient helped by the drug price provisions. He wrote, “between the 25 prescriptions that keep me alive, the $7,000 annual out-of-pocket costs are quickly shrinking my savings…The Inflation Reduction Act will change my life.” Soon Gene, who lives with a variety of conditions including terminal cancer and cardiac conditions, will pay no more than $2,000 out of pocket for the drugs he needs. “So, as I watched Democrats in Congress pass the Inflation Reduction Act, I couldn’t help but feel excitement and relief.” — (Bangor Daily News, Baltimore Sun, Colorado Politics, Union Leader)
One More Thing: Check out this episode from the “This is Type 1” podcast featuring Iesha Meza, who shares her struggle with insulin rationing and her journey to becoming an advocate in fighting for lower prescription drug prices.
Have a great weekend, everyone!