Patients hit by skyrocketing drug prices are speaking out in favor of Medicare negotiation in response to a plan in the House of Representatives that would lower drug costs for Americans through negotiations with drug corporations.
“People are skipping doses, cutting pills in half, choosing between food and paying for their drugs. People are dying because they can’t afford their insulin,” David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now will tell the the Education & Labor Subcommittee on Health today during a 2 p.m. hearing.
With drug prices continuing to skyrocket unchecked, three patients shared the impact of the status quo:
Sue Lee, Crewstood, KY, lives with plaque psoriasis: “I have been forced to stop taking Humira after learning the treatment would cost me over $8,000 a year out-of-pocket. I don’t have too large of a savings account and I live off of the fixed income provided to me by Social Security. I can’t afford to pay for Humira under any circumstances.”
Ruth Rinehart, Tampa, FL, lives with primary immune deficiency: “If drug costs were more affordable, it would take such a financial burden off my family. My husband is now also ill, and unfortunately, his drugs are not covered by insurance and so he cannot take what is being recommended for him. All we want is access to our medication without having to bankrupt our family.”
Bob Keller, Parsippany, NJ, lives with type 1 diabetes: “I wish that my wife could retire and we could move to Medicare, but because of the high cost of medication, that simply isn’t an option. I believe that Medicare should be able to negotiate lower drug prices for their beneficiaries. If they were to negotiate down the cost of my medication, my wife and I would enjoy a higher quality of life.”
Eighty-six percent of Americans — majorities of Democrats, Republicans, and Independents — support allowing Medicare to negotiate for lower prescription drug prices. But under current law, Medicare is prohibited from negotiating directly with drug companies on behalf of taxpayers and Medicare beneficiaries.
Nearly 1 in 3 adults report not taking their medicines as prescribed because of the cost. One in four have difficulty affording their medications.
Medicare negotiation would level the playing field for patients and taxpayers and lower the price of prescription drugs.
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TL;DR of PhRMA’s statement on the House plan to lower drug prices? “We’re good with the high prices, thanks.” Welcome to the Week in Review.
1. Get On Board the Negotiation Train
The House has offered up a robust plan that would allow Medicare to negotiate prescription drug prices. It would lead to major savings for patients and taxpayers across America. — (AP)
2.Patients Over Party!
Trump tweeted that he likes House Speaker Nancy Pelosi’s drug pricing plan and called for getting it done “the bipartisan way.” Congress: Please do! — (STAT)
3. PhRMA and BIO LOL
PhRMA and BIO are threatening the end of days if taxpayers negotiate. MEMO: The profit margins of drug corporations are almost three times the average of the S&P 500. Plenty of room to lower drug prices and fund innovation there. — (HealthLeaders Media)
4. Product Hops Must Stop!
A patient and an academic gave this insidious Big Pharma tactic the what for at a House Congressional hearing. What’s it all mean? — (P4AD and Regulatory Focus)
5. International Pricing Index: Let’s Make a Deal
Everybody loves the International Pricing Index! (Except for pharma, but nobody likes them.) — (NPR)
WASHINGTON, D.C. — In response to today’s release of a bill by House leadership that would lower drug prices for Americans, Ben Wakana, Executive Director of Patients For Affordable Drugs Now, issued the following statement:
“Early details of H.R. 3 clearly deliver on the promise to break the monopoly pricing power of drug corporations by allowing Medicare to negotiate for lower prescription prices. Importantly, the legislation incorporates key bipartisan priorities like an International Pricing Index, caps on price increases, and an out-of-pocket limit for prescription drug spending. It will lower drug prices for all Americans covered by a government plan or private insurance. H.R. 3 is a bold step forward.”
BACKGROUND:
The plan includes the following key provisions that would:
End the ban on Medicare negotiating directly with drug companies to lower prescription drug prices and empower HHS to negotiate prices for the 250 most costly drugs each year.
Ensure that Americans –– regardless of insurance type –– have access to lower-priced drugs. A drug corporation would be required to offer the negotiated price to Medicare and private insurance plans. If a drug company overcharges Medicare or fails to offer the fair price to people, it will be subject to a penalty of 10 times the difference between the price charged and the maximum fair price for the drug.
Establish a maximum fair price based on an international pricing index. Americans will pay no more than 120 percent what other wealthy nations pay (Canada, United Kingdom, Germany, France, Australia, Japan) and negotiations could take that price lower.
Stop drug companies from increasing prices faster than the rate of inflation, and impose penalties on drug companies if prices rise above inflation. If a drug company has raised the price of a drug in Medicare Part B or D above the rate of inflation since 2016, it can either lower the price or be required to pay the entire price above inflation back to the Treasury.
Cap seniors’ out-of-pocket costs for prescription drugs at $2,000 per year.Currently, out-of-pocket costs for seniors on Medicare can be over $15,000 per year.
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1. Let. Medicare. Negotiate.
A leaked draft of a House plan to empower the U.S. government to negotiate drug prices injects enthusiasm into the drug pricing debate and overlaps with President Trump’s plan. — (New York Times/FiercePharma)
2. Momentum Grows for Senate Finance Bill
Republican lawmakers are voicing their support to the Senate’s bipartisan effort to lower drug prices by curtailing price hikes and lowering out-of-pocket costs in Medicare. — (Press Herald)
3. Speak Out
P4AD Digital Director Samantha Reid describes what it’s like to live with the financial uncertainty illness brings. High drug prices for drugs to treat Crohn’s disease certainly don’t help! — (Twitter)
4. On the Take
The first six months of 2019 saw $4 million in pharma campaign finance donations pour into lawmakers’ coffers. See who’s got their hand in the pill cash jar. — (KFF)
5. No, really. LOWER DRUG PRICES.
The latest polling again shows the public wants Congress to make lowering drug prices a top priority. — (KFF)
WASHINGTON, D.C. — David Mitchell, a cancer patient and the founder of Patients For Affordable Drugs Now, issued the following statement in response to a draft plan in the House of Representatives that would lower drug prices for Americans through negotiations with drug corporations.
“If reports are accurate, this plan would deliver significant relief for patients and taxpayers. The proposal would lower prescription drug prices for American patients while protecting access to medicine and increasing funding for innovation.
“Americans pay two to three times what people in other nations pay for prescription drugs. Why? Other countries negotiate — we don’t. This proposal will ensure that Americans experience lower drug prices whether covered by a government plan or private insurance. It will be a bold step forward.”
BACKGROUND:
According to reports, the plan includes the following key provisions that would:
End the ban on Medicare negotiating directly with drug companies to lower prescription drug prices and empower HHS to negotiate prices for the 250 most costly drugs each year.
Establish a maximum fair pricebased on an international pricing index. Americans will pay no more than 120 percent what other wealthy nations pay (Canada, United Kingdom, Germany, France, Australia, Japan), and negotiations could take that price lower.
Ensure that Americans –– regardless of insurance type –– have access to lower-priced drugs. A drug corporation would be required to offer the negotiated price to Medicare and non-Medicare insurance plans — this includes people who buy insurance through their employer, the VA, Healthcare.gov, etc. If a drug company overcharges Medicare or fails to offer the fair price to people, it will be subject to a penalty of 10 times the difference between the price charged and the maximum fair price for the drug.
Stop drug companies from increasing prices on all drugs faster than the rate of inflation, and impose penalties on drug companies if prices rise above inflation. If a drug company has raised the price of a drug in Medicare Part B or D above the rate of inflation since 2016, it can either lower the price or be required to pay the entire price above inflation back to the Treasury.
Cap seniors’ out-of-pocket costs for prescription drugs at $2,000 per year. Currently, out-of-pocket costs for seniors on Medicare can be over $15,000 per year.
Direct savings to new drug research and innovation at the NIH.
Medicare Part D provides coverage for 43 million Americans’ prescription drug needs. And spending has been on an untenable path.
Nearly 1 in 3 adults report not taking their medicines as prescribed because of the cost — (KFF)
Eighty six percent of Americans — majorities of Democrats, Republicans, and Independents — support allowing Medicare to negotiate for lower prescription drug prices. But under current law, Medicare is prohibited from negotiating directly with drug companies on behalf of taxpayers and Medicare beneficiaries. — (KFF)
Eighty percent of Americans say Congress’s top priority should be action to lower drug prices. — (Harvard/Politico)
Drug prices and Medicare drug spending are out of control. Americans pay twice as much for prescription drugs as other nations. — (The Atlantic)
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Pharma just took a DNA test. Turns out they’re 100% OVERPRICED.
1. “I have nothing. But I am alive, and I can still fight.”
Patient advocate Cynthia Stockton reflects on her experience with high drug prices as lawmakers weigh a measure that would help put an end to collusive pay-for-delay deals. — (The Sacramento Bee)
2. ? ← New Pharma Poll Numbers
According to Gallup’s annual review of U.S. public opinion, pharma is the lowest-rated industry in America. That’s a new low. — (Gallup)
3. PharmaCEOs Dish Dough
Drug company CEOs are opening their pockets and spending big bucks on a small targeted group of senators. — (STAT)
States have passed a record number of laws to rein in drug prices. Let’s keep the momentum going! — (USA Today)
Welcome to The Week in Review in Prescription Drug Pricing — Labor Day edition.
1. The $6 Million Claim
Pharma is siphoning hourly wages from the pockets of hard-working Americans. Read and watch: — (The New York Times & FX)
2. MS Mess
People living with multiple sclerosis face drug costs that quadrupled in a decade. — (Reuters)
3. Golden State Grapple
California patients are using their voices to tackle abusive pay-for-delay tactics and get the affordable drugs they need. — (@AGBecerra)
4. Congressional Cash Flow
Pharma is showering vulnerable Congressional members with cash to maintain influence as drug pricing scrutiny intensifies. — (USA Today)
5. No Info
The secrecy surrounding prescription drug prices has left prescribing doctors baffled. — (AP)
1. Slowing Down for the Speed Cameras
Under increasing scrutiny and pressure from patients and lawmakers alike, drug makers are still raising prices, just at slower rates than before. — (AP)
2. Clear as Day
Oregon wants drug price hikes OreGONE. A new transparency law means drug corporations don’t get to keep hikes in the dark any more. — (Biz Journals)
3. A choice no one should have to make
According to a new study, a significant number of working age adults with diabetes are rationing or skipping their medication due to sky-high costs.— (Huffington Post)
4. In His Own Words
P4AD’s David Mitchell shared his thoughts on the broken prescription drug market and the impact it has on patients. — (Washington Examiner)
5. Oh yeah?
A judge said HHS can’t make Big Pharma put its list prices in TV ads. HHS is pushing back. — (Reuters)
