It’s been 6 years since Britney has recorded new music — but it’s been three times longer that Medicare hasn’t been able to negotiate lower drug prices. Big Pharma’s Toxic drug prices Drive Me Crazy.
Welcome to the Week in Review.
1. No Time To Lose
Momentum continues to build for passing the House-passed comprehensive drug pricing reforms through reconciliation. This week, Speaker Pelosi and Rep. Allred spoke at a Dallas roundtable about why Medicare must be allowed to negotiate lower drug prices. In a press conference, Senator Baldwin reiterated her support for Medicare negotiation, and in the media, Rep. Titus highlighted the overwhelming support for the provision in her district and across the country. The moment is at hand to pass the groundbreaking reforms — with the support of all 50 Democratic senators, we can deliver relief to Americans burdened by high drug prices now. — (KERA, La Crosse Tribune, KNPR)
2. Princes Of Profiteering
As Americans struggled with health and financial crises brought on by the COVID-19 pandemic, Pfizer CEO Albert Bourla hauled in a $24 million compensation package in 2021. To put that number into perspective, Bourla’s $24 million could have paid for hundreds of frontline worker salaries — 521 paramedics, 319 nurses, or 115 doctors. Drug companies and their executives continue to cash in on vaccines based on taxpayer-funded research, and Americans are left paying twice for the life-saving technology we need. — (FiercePharma)
3. “We Have Waited Long Enough”
A patient advocate and AARPleaders wrote powerful op-eds this week explaining how Congress has the opportunity to help patients and seniors across the country by passing the negotiated drug pricing reforms in a reconciliation package. “If I don’t have enough [money], I may turn around and leave the medications at the pharmacy, even though I rely on them to keep me well,” writes Donna Bowers, a Pennsylvania kidney donor and arthritis patient. “We have waited long enough for affordable health care in this country. Now it’s time to finish the job and pass legislation that will lower the cost of prescription drugs so millions of Americans, including me, can relax knowing that they can afford the medications they need to stay healthy.” — (The Morning Call, The Daily Item, The Connecticut Mirror)
It’s madness that drug prices are still so high, but if a #15 can beat a #2, then we can beat pharma and lower drug prices for Americans.
Welcome to the Week in Review.
1. “A Clear Path Forward”
On Wednesday, the Senate Finance Committee’s hearing on high drug prices further underscored the urgent need for drug pricing reform. During the hearing, senatorsexplained how the House-passed reforms in the Build Back Better Act — which the drug lobby has spent tens of millions of dollars opposing — willhelplowerpricesforpatients. “There is just no substitute — none — for the number one reform, which is allowing Medicare to negotiate like any other payer,” said Chairman Wyden. “I see a clear path forward to deliver drug pricing reform for the American people in a way that is balanced and in a way that is fair, and I’m confident that these policies can pass through Congress and be signed into law even today,” added Senator Carper. Let’s get it done. — (P4ADNow)
2. Letters For Lower Drugs
In letters and op-eds this week, a patient, a constituent, and employers urged Congress to act quickly to lower drug prices. “As a senior living on a fixed income, I’ve had to choose between filling my Humira prescription or buying groceries. That’s a decision no one should have to make,” writes Katherine Pepper, a Washington patient who lives with an autoimmune disease. “Rising prices have been a constant problem as drug corporations have relentlessly raised prices, often higher than inflation rates, for well over a decade,” explains Virginian Dilcia Molina. “The time is long overdue for Congress to act on drug prices.” — (The Seattle Times, The Free Lance-Star, The Hill)
3. Stop Pharma Profiteering Now
A piece in The Philadelphia Inquirer lays out how drug companies and theirexecutives have raked in massive profits from taxpayer-funded COVID-19 vaccines and treatments. “Make no mistake: The effort by drug companies was hugely profitable, because the government paid for the research, removed all the risk factors and committed billions to pre-approval purchases,” author Daniel Hoffman explains. — (The Philadelphia Inquirer, CNBC, FiercePharma)
4. The High Price Of Cancer Care
A new survey from the American Cancer Society Cancer Action Network reveals that 51 percent of cancer patients and survivors have taken on debt to pay for their care, and 65 percent say they are worried about the costs of their prescription drugs. Cancer medications are among the most expensive drugs on the market — it’s more clear evidence that high prices are hurting patients. Americans deserve better. — (Axios)
5. Patient Spotlight ?
Virginia patient advocate Kat Schroeder, who lives with type 1 diabetes, was interviewed by Spectrum News on why patients need Congress to pass drug pricing reforms now. “This is my lifeline,” Kat said about her insulin, which costs about $3,300 for a three-month supply. “If I run out of insulin, I’m dead within a few days.” The drug pricing reforms being considered by the Senate will allow Medicare to negotiate lower drug prices, including for insulin. Kat and millions of other patients are depending on Congress to fulfill their promise. – (Spectrum News)
One more thing: Good news! This week, the New Jersey Senate Health, Human Services, and Senior Citizens Committee voted to advance legislation that would establish a prescription drug affordability board to tackle high drug prices on behalf of New Jersey patients.
Big Pharma’s Lies And Scare Tactics Repeatedly Exposed
“Thank you to Chairman Ron Wyden and the Senate Finance Committee for holding today’s hearing on the outrageous prices of prescription drugs in this country. Senators and witnesses alike made the compelling case for passage of the comprehensive drug price reforms now before the Senate. The hearing demonstrated the urgent and overwhelming imperative that Congress pass the reforms, including Medicare negotiation, this year. Without action, we are effectively mandating that Americans continue to pay almost four times what patients in other countries pay for the same brand-name drugs.
“The hearing again highlighted the lengths that Big Pharma will go to spread misinformation and scare patients in order to protect the industry’s unilateral power to dictate prices in this country. Despite record spending on lobbying and dark money campaigns by drug companies who are trying to block the drug pricing reforms, patients know the provisions will allow for the innovation we need at prices we can afford, increase access to drugs, and save lives. Americans are depending on Congress to get it done.”
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Today’s Hearing:
During the hearing, senators advocated strongly for passing the comprehensive reforms already passed by the House of Representatives.
Chairman Ron Wyden reiterated: “There is just no substitute — none — for the number one reform, which is allowing Medicare to negotiate like any other payer. Without negotiation, the job is just not done. For example, setting out-of-pocket caps without negotiation just passes the price on to somebody else, and that’s usually taxpayers. That’s not sustainable and just puts more pressure on Medicare’s finances in the long run.”
Senator Catherine Cortez Masto said, “It just astounds me that there’s so much fear-mongering going on around here. So really, when I hear ‘government price controls,’ what I’m hearing is that pharmaceutical companies are afraid for the free market to take place and negotiation to take place to lower these costs. ”
Senator Tom Carper explained: “I see a clear path forward to deliver drug pricing reform for the American people in a way that is balanced and in a way that is fair, and I’m confident that these policies can pass through Congress and be signed into law even today, even today. We can cap the price Americans pay, for example, for insulin at $35 per prescription, we can establish the first-ever out-of-pocket cap for seniors in Medicare Part D, we can institute a price inflation penalty where drug companies would pay a penalty to Medicare for raising prices faster than inflation, and we can allow Medicare to negotiate the lower drug prices.”
Opponents of the drug pricing reforms under consideration by the Senate repeated pharma’s lies that Medicare negotiation would stifle innovation and reduce patient access to medications. Here’s why these claims are just not true.
Background:
The prescription drug pricing reforms in the House-passed Build Back Better Act would:
Empower Medicare to negotiate lower prices for the most expensive prescription drugs, including insulin.
Cap annual out-pocket-costs for Medicare beneficiaries at $2,000 in Part D.
Implement a copay cap of $35 a month on insulin products for people on commercial or government insurance plans.
Penalize drug companies for price increases that outpace the rate of inflation.
President Biden has repeatedlystated his commitment to deliver lower drug prices for Americans. In his State of the Union address this month, the president called on Congress to lower the prices of prescription drugs and allow Medicare to negotiate.
The drug pricing reforms in the Build Back Better Act have been endorsed by the entire Democratic caucus. Key members continue to emphasize that lowering drug prices will address high and rising costs and are encouraging the caucus to move forward with the comprehensive drug price provisions, including Medicare negotiation.
Allowing Medicare to negotiate is widelysupported by Democrats, Republicans, and independents alike.
8 in 10 Americans agree that Medicare should have the power to negotiate with drug companies for lower prices.
Polls have repeatedly shown that voters believe Medicare negotiation is the top priority in the president’s Build Back Better plan.
9 in 10 voters consider drug prices an important issue leading up to the midterm elections. 3 in 4 voters say that a failure to pass drug pricing reforms will impact their vote.
Big Pharma And Its Allies Will Spread Lies To Oppose Reforms — Here’s What To Look Out For
WASHINGTON, D.C. — The Senate Committee on Finance will hold a hearing tomorrow at 10:00 AM ET on the need to pass comprehensive drug pricing reforms, including Medicare negotiation. The hearing, “Prescription Drug Price Inflation: An Urgent Need to Lower Drug Prices in Medicare,” takes place as the Senate considers the drug pricing reforms already passed by the House of Representatives. Opponents of these reforms are expected to shepherd Big Pharma’s talking points with false claims about innovation, access, and Big Pharma’s investment in COVID-19 vaccines. Here’s a roundup of what to look out for, how these reforms will help patients, and the momentum to get it done:
Big Pharma Fear-Mongering
Innovation Lies: Big Pharma claims that Medicare negotiation will stifle innovation, lead to fewer drugs coming to market, and devastate pharma revenue, jeopardizing jobs and R&D investment.
The Truth: The impact on innovation under the BBB provisions would be negligible to non-existent. The CBO score of the BBB provisions found that Americans would forgo just 10 out of 1,300 drugs over the next 30 years — and there’s no indication that any of the drugs lost would be innovative cures, as only 1 in 8 new drugs generates a new therapeutic benefit. The pharmaceutical industry is in no danger of being in financial jeopardy. Large, brand-name drug corporations could lose $1 trillion in sales over a decade and still be the most profitable industry in the United States.
Access Lies: Big Pharma claims that reforms would reduce access to life-saving drugs and put Washington bureaucrats in between patients and their medications.
The Truth: The biggest barrier to patient access is high prices. Right now, 1 in 3 adults do not take their medication as prescribed due to cost, and it is the most commonreason given for not filling a prescription. The drug price reforms being considered by the Senate will increase access to drugs and save lives by reducing prices. Right now, pharma CEOs are the ones standing in between patients and their drugs because they are responsible for the high prices that keep medications out of reach.
COVID-19 Lies: Big Pharma claims that reforms would devastate the profits of an industry that just saved us from COVID-19.
The Truth: Taxpayers laid the scientific foundation for our most effective COVID-19 vaccines. Drug companies only got involved after the promise of a handsome, risk-free profit. Since the beginning of the pandemic, over $18 billion in public funds has been invested into vaccine candidates, mitigating the financial risk and accelerating development. Pfizer and Moderna are expected to rake in $51 billion from their COVID-19 vaccines in 2022 following record-breaking revenue from Pfizer’s vaccine in 2021. COVID-19 vaccine sales have created nine new billionaires.
How Drug Pricing Reforms Will Help Patients The drug price provisions under consideration will, for the first time, authorize Medicare to negotiate prices directly for some of the most expensive prescription medicines; institute a hard cap on out-of-pocket drug costs for Medicare beneficiaries and limit copays on insulin for millions of Americans to $35 each month; and limit annual price increases to stop price gouging by drug corporations.
If the drug pricing crisis goes unaddressed, millions of patients will be denied access to prescriptions they need to survive, and the drug industry will be left with unilateral power to dictate prices for brand-name drugs — something no other nation in the world allows. Without action, we are effectively mandating that American patients continue to pay almost four times what patients in other countries pay for the same brand-name drugs. Acting on reforms is a health equity imperative — non-white patients are disproportionately harmed by rising drug prices.
Momentum To Get It Done The momentum is here – in his State of the Union address, President Biden called for lowering drug prices as a key part of his plan to lower costs for Americans, and Senator Manchin followed the president’s call by saying he is ready to come to the table and pass drug pricing reforms in a reconciliation bill. The full Democratic caucus has endorsed the deal to lower drug prices. Key members continue to emphasize that lowering drug prices will address high and rising costs and are encouraging the caucus to move forward with the comprehensive drug price provisions, including Medicare negotiation.
Rising prices are understandably a top concern for American families. Addressing drug prices will put more money back in the pockets of patients and their loved ones by helping curb inflation. Additionally, lowering drug prices is a top midterm issue for more than 90 percent of voters. If Congress fails to pass reforms, 3 out of 4 voters say it will impact their vote in November.
The Senate Finance Committee hearing on drug pricing will include witnesses Rena M. Conti, Ph.D., Douglas Holtz-Eakin, Ph.D., Stephen Ezell, and Steffany Stern, M.P.P. Watch tomorrow at 10:00 AM ET here.
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Welcome to the Week in Review.
1. Listen To Colorado Patients
On Tuesday, Colorado patient advocates Gail deVore and Kris Garcia shared their experiences with high drug prices at a virtual roundtable with Senator Bennet and urged Congress to pass the drug pricing reforms from the Build Back Better Act. “I had to give up my dream of being a business owner because of how expensive my medications were,” said Kris, a patient who lives with several bleeding disorders, asthma, and severe allergies. “As someone who has been facing the outrageous price of insulin for decades, I can’t begin to tell you how much real, comprehensive drug pricing reform would mean to me,” shared Gail, a type 1 diabetes patient. There is a clear path forward for lawmakers to deliver lower prescription drug prices in the new reconciliation package. Patients in Colorado and across the country are demanding reforms — Congress must act now. — (P4ADNow)
2. Momentum Is Clearer Than Ever
This week, Senator Brown, a patient advocate, and a veteran wrote to their local publications in support of allowing Medicare to negotiate lower drug prices. Senator Brown explains that the current ban on Medicare negotiation allows Big Pharma to price gouge for higher profits at the expense of Americans who depend on their medications. Patient advocate Therese Humphrey Ball, a retired nurse who lives with multiple sclerosis, describes forgoing her medication due to its high price. “Lowering drug prices through negotiations is a commonsense way to make medicines affordable for people on Medicare,” writes Michael Kanter, a Florida veteran. “Patients like me are counting on President Biden to make good on his promise and work with Congress to pass these reforms,” Therese urges. “We can’t wait any longer.” — (Wilmington News Journal, South Bend Tribune, Tampa Bay Times)
3. Big Pharma’s Big Money
Big Pharma continued to break records this week. The industry is spending millions on TV ads while patients are struggling to afford the very prescription drugs Big Pharma is advertising. Eli Lilly’s diabetes drug Trulicity holds its winning streak with a hefty $45.8 million spend. And it’s no surprise that Moderna CEO Stephane Bancel’s pay jumped 41% to $18.2 million as the company’s COVID-19 vaccine expands globally. In the third year of a pandemic that has killed nearly 1 million Americans so far, Bancel is becoming filthy rich off a vaccine funded and paid for by taxpayers – profiteering off the pandemic at it’s finest. — (FiercePharma, FiercePharma)
HEADS UP: The Senate Finance Committee is holding a hearing on the urgent need to lower prescription drug prices on Wednesday, March 16. Keep an eye out for an email from us on Big Pharma talking points to watch out for during the hearing.
Roundtable Takes Place As Senate Considers Drug Pricing Reforms In A New Reconciliation Package
WASHINGTON, D.C. — Colorado patient advocates Gail deVore and Kris Garcia will speak at Senator Michael Bennet’s virtual roundtable today at 3:00 PM MT/5:00 PM ET on the urgent need to lower the price of prescription drugs. This event takes place as the Senate considers the drug pricing reforms already passed by the House of Representatives.
“Colorado patients are fortunate that Senator Bennet is a champion in the fight to deliver relief to Coloradans and Americans who are struggling to afford their prescription drugs,” said David Mitchell, a patient with incurable blood cancer whose drugs carry a list price of more than $900,000 per year and founder of Patients For Affordable Drugs Now, ahead of the roundtable. “The drug pricing reforms under consideration by the Senate will help millions of patients by authorizing Medicare to negotiate directly with drug companies, limiting year-to-year price increases, and capping out-of-pocket costs for millions who are on Medicare or are insulin-dependent.”
Kris, a father of three from Denver, lives with bleeding disorders, asthma, and severe allergies and is prescribed many expensive drugs, including EpiPens and Humate-P, which costs $10,000 per vial. “The toll of having a medical condition like this is taxing enough; the financial burden only makes such a situation more stressful,” Kris will say at the roundtable. “The price of these prescriptions has affected many decisions in my life. I had to give up my dream of being a business owner because of how expensive my medications were. … My family and I will keep having to make daily sacrifices in order to make sure I have what I need to survive. … The Senate must pass these measures now to help the millions of patients in the U.S. who struggle to afford their drugs.”
“As someone who has been facing the outrageous price of insulin for decades, I can’t begin to tell you how much real, comprehensive drug pricing reform would mean to me,” Gail, a Denver patient who lives with type 1 diabetes and depends on insulin to survive, will share today. “That’s why I am so grateful that Senator Bennet is fighting to lower drug prices for all patients so we have access to the medications we need at prices we can afford.”
In his State of the Union address last week, President Biden called on Congress to lower the prices of prescription drugs by passing reforms, including allowing Medicare to negotiate. The drug pricing reforms in the House-passed Build Back Better Act are the most popular element of the package, will deliver relief to patients, and have been endorsed by all 50 Democratic senators.
Senator Bennet, Gail, and Kris will be joined by other Colorado patients and spokespeople from AARP Colorado and Colorado Consumer Health Initiative at today’s event. Reporters who are interested in attending today’s 3:00 PM MT/5:00 PM ET virtual roundtable should RSVP to [email protected]. Gail, Kris, and P4ADNow staff members are available to speak with press upon request.
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Welcome to the Week in Review.
1. “First, Cut The Costs Of Prescription Drugs”
In his State of the Union address this week, President Biden called on Congress to lower the prices of prescription drugs by passing reforms, including allowing Medicare to negotiate. He listed lowering drug prices as a key part of his plan to lower costs for Americans who are feeling the impact of inflation. Following the address, Senator Manchin offered renewed momentum for passing a reconciliation package by calling for a plan that includes lowering drug prices for Americans. The drug pricing reforms in the House-passed Build Back Better Act are the most popular element of the package, will deliver relief to patients, and have been endorsed by all 50 Democratic senators. With the Senate back in session, the moment is at hand – Congress, it’s time to act. — (CNBC, The Hill)
2. Voters Are Watching
New polling and analyses on rising drug prices demonstrate why Congress must pass the drug price reforms from the Build Back Better Act. A Morning Consult survey reveals that 9 in 10 voters consider drug prices an important issue leading up to the midterm elections, and 3 in 4 voters say that a failure to pass drug pricing reforms will impact their vote in November. Analyses released this week detail how drug companies have hiked the prices of brand-name drugs, many of which are among the most costly drugs for Medicare and bear price increases above the rate of inflation. One analysis found that if the drug pricing reforms under consideration by the Senate had been in place in 2022, drug companies would already owe more than $150 million in fines to the federal government due to price gouging. We need these reforms so we can finally hold drug companies accountable for their exploitative pricing practices and lower prices for patients and all Americans. We can’t afford to wait any longer. — (Morning Consult, Kaiser Family Foundation, AARP, West Health)
3. Seize This Moment
Opinion pieces are flooding in about the urgent need for drug pricing reform. Rep. Susan Wild wrote an op-ed this week urging her colleagues to act swiftly to lower drug prices for patients and deliver on their campaign promises. “Democrats have promised for years that we’d hold Big Pharma accountable and lower the price of prescription drugs for Americans,” Rep. Wild writes. “And now we have the opportunity to follow through on that promise.” Communitymembers, advocates, and an editorial board added their voices in support of drug pricing reforms. “There will never be a better time to deliver on their promise of fair drug prices,” writes AARP Pennsylvania state director Bill Johnston-Walsh. “Washington can’t let Big Pharma keep ripping off our seniors.” — (The Hill, Las Vegas Sun, Culpeper Star-Exponent, The Patriot-News, The Journal Inquirer)
One more thing: The non-profit drug company Civica announced a plan to manufacture and sell biosimilars of some of the most widely used insulin products at a fraction of the brand-name prices. This could be a game changer for patients who depend on insulin to live, especially for those who are uninsured.
“Let’s Let Medicare Negotiate The Price Of Prescription Drugs”
WASHINGTON, D.C. — The following statement was issued by David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now, following the president’s State of the Union address:
“Tonight, President Biden once again called for legislation to lower prescription drug prices, including Medicare negotiation. For two decades, Americans have been targeted by drug companies that established a system that prevents our government from negotiating on our behalf. It is imperative that the Senate pass a package of reforms that will couple copay and out-of-pocket caps with provisions that drive down prices by empowering Medicare to negotiate lower prices and limiting year-to-year price increases to truly lower costs — not just shift them around. Otherwise, Americans will wind up paying more through higher premiums and taxes.
“With inflation at record levels and Americans facing rising costs, Big Pharma’s price gouging forces Americans to pay almost four times what people in other nations pay for the same brand-name drugs. The drug price reforms from the House-passed Build Back Better package allow Medicare to negotiate lower prices, curb Big Pharma’s price gouging, cap out-of-pocket costs, and deliver long overdue relief to millions of Americans. The reforms have the support of all 50 Democratic senators, offering a clear path to passage through reconciliation. The provisions are the most popular element of the original package, and more than 90 percent of voters list drug pricing reform as a top issue for the midterms.
“It is time for the Senate to advance a reconciliation package with these drug price reforms. Americans need help now.”
Background:
The prescription drug pricing reforms in the House-passed Build Back Better Act would:
Empower Medicare to negotiate lower prices for the most expensive prescription drugs, including insulin.
Cap annual out-pocket-costs for Medicare beneficiaries at $2,000 in Part D.
Implement a copay cap of $35 a month on insulin products for people on commercial or government insurance plans.
Penalize drug companies for price increases that outpace the rate of inflation.
President Biden has repeatedlystated his commitment to deliver lower drug prices for Americans. In December, the president met with two patientadvocates to hear their stories ahead of his speech on drug pricing reforms in his Build Back Better plan.
The drug pricing reforms in the Build Back Better Act have been endorsed by the entire Democratic caucus. Key members continue to emphasize that lowering drug prices will address high and rising costs and are encouraging the caucus to move forward with the comprehensive drug price provisions, including Medicare negotiation.
Allowing Medicare to negotiate is widelysupported by Democrats, Republicans, and independents alike.
8 in 10 Americans agree that Medicare should have the power to negotiate with drug companies for lower prices.
Polls have repeatedly shown that voters believe Medicare negotiation is the top priority in the president’s Build Back Better plan.
According to a new Morning Consult poll, 9 in 10 voters consider drug prices an important issue leading up to the midterm elections. 3 in 4 voters say that a failure to pass drug pricing reforms will impact their vote.
