We think Big Pharma should follow Tom Brady’s lead and retire its price hikes.
Welcome to the Week in Review.
1. Blockbuster Prices Reach New Heights
- The latest report from P4AD takes a closer look at the 742 price hikes taken by drug companies already this year. The hikes, which are concentrated among the top-selling products in the United States, demonstrate why congressional action is urgently needed to address skyrocketing drug prices. Among the price increases are medications like Xarelto and Januvia, which are some of the most costly drugs for Medicare Part D and would likely be eligible for negotiation if the drug pricing reforms in the Build Back Better Act are signed into law. “I work three jobs to be able to afford the astronomical prices of my cancer and diabetes drugs,” says Steven Hadfield of Charlotte. “The price increases to Imbruvica and Januvia just make it that much harder to afford the medications I need.” — (P4ADNow)
2. Drug Pricing Provisions Are Popular
- This week, 40 House Democrats sent a letter to congressional leadership calling on their colleagues to lower drug prices by passing the reforms already agreed to in the Build Back Better Act. Tackling high drug prices is one of the most popular issues across the country — recent polls found that over 70 percent of Arizona and West Virginia voters support allowing Medicare to negotiate lower prices. Congress must rebalance our drug pricing system and help Americans get the medications we need. Patients are depending on it. — (The Hill, Charleston Gazette-Mail, Protect Our Care, Bloomberg, The Exponent Telegram)
3. “How Do You Justify That?”
- Patients continued to speak out about outrageous drug prices this week. In a viral TikTok video, Abigail Gingerale shared a phone call with a pharmacist who said her medication to treat narcolepsy cost over $18,000 for a month’s supply. In a letter to the editor, breast cancer and lupus patient Christina Raymond described why she needs Congress to pass drug pricing reform. “Each round of chemo costs $10,000, a chemo shot called Neulasta is priced at $24,000 every two months, and Lupron — a hormone therapy I took until last year — costs $1,500 a month,” Christina writes. “It’s time for Congress to pass these badly needed drug pricing reforms to deliver the innovation we need at prices we can afford.” — (Newsweek, Lewiston Sun Journal)
