1. 🎉First 10 Drugs Eligible For Negotiation Announced 🎉
In an historic step for patients across the country, the Centers for Medicare and Medicaid Services (CMS) announced the first ten eligible drugs for which Medicare will negotiate lower prices under the Inflation Reduction Act. The list of expensive drugs — which includes cancer treatments, blood thinners, autoimmune disease treatments, and diabetes drugs — have been unfairlyhighpriced for years at patients’ expense. “I am one of millions of people in this country who take Eliquis (apixaban), a blood thinner that has a list price of almost $7,000 in the U.S. because its maker, Bristol-Myers Squibb, has blocked competition. In Canada, where there is a generic, the price is less than $1,700,” P4AD’sDavidMitchell, who takesEliquis, one of the drugs on the list, remarked. “With negotiations, millions of patients will finally get a more affordable price for drugs like Eliquis.” Sheldon Armus, a patient advocate who takes one of the listed drugs, Xarelto, shared with CBS News: “That $500 cost for Xarelto should [be] negotiated way down so that the American public doesn’t have to pay the balance.” The first ten eligible drugs for negotiation make up 20 percent of total Medicare spending and significant savings are anticipated for both patientsand taxpayers. Medicare negotiation will significantly improve health outcomes: especially for women, who are more likely to take medications — like Stelara and Enbrel — to treat autoimmune conditions, as well as non-Latino Black and Latino men who use medications that treat diabetes at higher rates. We look forward to working with CMS to ensure the widely supported Medicare negotiation program is successfully implemented so that millions of patients get a better deal on these high priced medications. — (MedCity News, AARP, HuffPost, ABC News, P4ADNow, PBS, Vox, The 19th, Center For American Progress)
2. Patient Advocate Steven Hadfield Introduces The President 🇺🇸
Steven Hadfield, a husband, grandfather of three, and dedicated patient advocate from North Carolina, introducedthePresident at the White House on Tuesday and thanked him for passing the Inflation Reduction Act. Steven is on Medicare and lives with both a rare blood cancer and type 2 diabetes and relies on expensive medications to keep him alive. The White House releasedavideo yesterday that highlights Steven and President Biden’s conversation about high drug prices ahead of the president’s speech. Steven told the president he was grateful for the new law that’s already capped his insulin costs to $35 a month and will soon lower the price of another one of his diabetes drugs, Januvia, which made the first list of drugs eligible for Medicare negotiation. “I have been a hard worker all my life. And I’ve always had to work multiple jobs simultaneously so I can afford my medications…But I’m afraid that if I retire, I won’t be able to afford what I need to survive,” Steven sharedahead of introducing the president. “Thanks to President Biden, that’s changing. He’s finally ending Big Pharma’s one-sided pricing power, and giving seniors like me a break.” — (P4ADNow, ABC News 10, ABC News, WFDD, The White House)
3. Future Reforms To Address Patent Abuse And PBMs
With Congress returning from recess next week, it’s time to hit the ground running to pass legislation to strengthen our patent and regulatory systems and increase transparency in the pharmacy benefit manager (PBM) industry. Rep. Pramila Jayapal and Senator Elizabeth Warren sent a letter to the Food and Drug Administration (FDA) urging reforms within the agency to close loopholes that Big Pharma exploits to block generic competition from coming to market. Big Pharma’s abuse of the patent system results in unfettered pricing power that often harms patients. “By suppressing competition in the prescription drug marketplace, Big Pharma has been free to repeatedly hike prices, including increases on almost 1,000 medications in just the first month of 2023,” wrote Jack Larson in a Montana letter to the editor. Legislators are also gearing up to push for PBM reform. Senate Finance Committee Chair Ron Wyden is fully committed to reining in the middlemen and shedding light on its secretive practices. “What they are saying is … that [PBMs] will negotiate a good deal on your medicine. It might have made sense 30 years ago. But now, the best deal they are negotiating puts money into the pockets of their executives, rather than yours.” We’re excited to work with Congress this fall to fix our patent and regulatory systems and shine light on the opaque practices of PBMs! — (Office of Representative Jayapal, Missoula Current,Portland Tribune, KMA Land)
Have a great weekend!
“I’m so grateful to President Biden for passing the Inflation Reduction Act. It’s already made a huge difference in my life.”
WASHINGTON, D.C. — Patient advocate Steven Hadfield from North Carolina, who is on Medicare and lives with a rare blood cancer and type 2 diabetes, introduced and thanked President Biden for passing the Inflation Reduction Act and sharedhisstory about the high prices of his own prescription drugs earlier this week. Today, the White House released a video that highlights Steven and President Biden’s conversation just ahead of the president’s Tuesday speech where he celebrated the announcement of the first 10 eligible drugs for which Medicare will negotiate lower prices.
“I have been a hard worker all my life. And I’ve always had to work multiple jobs simultaneously so I can afford my medications…But I’m afraid that if I retire, I won’t be able to afford what I need to survive,” Steven shared ahead of introducing the president. “Thanks to President Biden, that’s changing. He’s finally ending Big Pharma’s one-sided pricing power, and giving seniors like me a break.”
Steven takes numerous medications to keep him alive. One drug, Brukinsa, which treats his rare blood cancer, comes with a price tag of almost $16,000 a month. Thankfully, his diabetes medication is already significantly lowered from the Inflation Reduction Act. Steven used to pay up to $400 per month for his Lantus insulin, but thanks to the copay cap for Medicare beneficiaries in the new law, Steven now receives it for $35 a month. And another one of Steven’s diabetes drugs, Januvia, which carries a monthly list price of $547, was one of the first 10 drugs announced as eligible for negotiation.
Watch Steven’s remarks introducing the president here.
Patients On Listed Drugs React With Joy To Lower Prices On The Horizon; Long Awaited Relief
WASHINGTON, D.C. — The following statement was issued by David Mitchell, a cancer patient and founder of Patients For Affordable Drugs Now, in response to the Centers for Medicare and Medicaid Services (CMS) announcement of the first ten drugs for which Medicare will negotiate lower prices as part of the Inflation Reduction Act:
“This is a momentous day for patients across the country. Finally beginning to undo the nearly 20-year ban on Medicare using its purchasing power to get lower prices, Medicare will now negotiate for a better deal for these ten high-cost drugs. The list includes essential life-saving medications – cancer treatments, blood thinners, autoimmune disease treatments, diabetes drugs – that people in this country have been paying unjustified amounts for decades, while drug companies have used Medicare as a piggy bank raising prices to hit profit targets and trigger executive bonuses.
“I am one of millions of people in this country who take Eliquis (apixaban), a blood thinner that has a list price of almost $7,000 in the U.S. because its maker, Bristol-Myers Squibb, has blocked competition. In Canada, where there is a generic, the price is less than $1,700. With negotiations, millions of patients will finally get a more affordable price for drugs like Eliquis.
“We look forward to continuing to work with CMS and the Department of Health and Human Services (HHS) to ensure the law is implemented despite opposition from Big Pharma, and that patients finally begin to get a better deal for these ten high-priced medications and another 50 by 2029. We’ve been waiting far too long for this relief. This is just the beginning and we will continue pushing on all fronts to lower drug prices for everyone.”
The following statements are from patients around the country who are on some of the ten drugs on the list to be negotiated first for lower prices:
“After years of having to forgo or ration some of my drugs because of their high costs, I can’t tell you what it means for me to see Januvia on the list of the first drugs for Medicare negotiation,” said Steven Hadfield of Matthews, North Carolina, who lives with a rare cancer and type 2 diabetes. “To treat my diabetes, I take Januvia, which carries a monthly list price of $547. Drugmaker Merck has made a fortune from patients like me who are forced to pay whatever price the company dictates. A fairer price for Januvia will mean a world of difference.”
“I was shocked and terrified when the pharmacist told me the monthly copay for Xarelto after insurance would be $1,000. There was no way I could afford that!” said Ellen Farmer, who lives in Attleboro, Massachusetts and takes blood thinner Xarelto to treat her atrial fibrillation. “Johnson & Johnson, the drug company that makes Xarelto, has increased the price of its medicine by more than 111 percent since it first entered the market 12 years ago. The fact that Xarelto is on the first list of drugs to be negotiated gives me so much relief.”
“Enbrel costs me around $330 a month with my Medicare advantage plan – and its list price is over $7,000. This type of pricing unfairly takes advantage of those on Medicare, many of whom, like me, live on a fixed income,” said Judy Aiken of Portland, Maine who lives with autoimmune disease psoriatic arthritis and psoriasis. “Seeing Enbrel on the list of drugs to be negotiated first allows me to take a deeper breath and honestly live a better life. Enbrel’s high price has been a real burden, a constant anxiety. A better deal on this drug is life changing for me and thousands of patients.”
The prices of the following ten drugs will be the first to be negotiated by Medicare:
Dear Big Pharma, your top 10 most expensive drugs “Used To Be” some of the world’s most unaffordable, but with Medicare negotiation, we won’t have to pay your unjustified prices for a “Single [Drug] Soon.” “Yours Truly,” patients.
Welcome to the Week in Review.
1. Pushing Back On Negotiation Lawsuits
We’re just a few days away from the Centers for Medicare and Medicaid Services (CMS) announcement of the first ten drugs for which Medicare will negotiate lower prices, and advocates and lawmakers are fighting to ensure successful implementation of the new law. P4AD joined AARP this week to host a press call to discuss upcoming implementation of Medicare negotiation, as well as Big Pharma’s lawsuits challenging the process. On the call, Ellen Farmer, a patient on Medicare taking blood thinner medication Xarelto, shared her experience struggling to afford the medication and expressed relief in knowing it may be on the first list of negotiated drugs. In new videos, P4AD’s David Mitchell and Merith Basey explained how the lawsuits to stop Medicare negotiation are being fiercely challenged because patients will be harmed if the law is overturned. In an op-ed celebrating Medicare negotiation, Senator Amy Klobuchar wrote: “What good are treatments and cures if they go unused because they are unaffordable to patients?” Well said, Senator! While more drugcompanies continue to file lawsuits to attempt to stop implementation of Medicare negotiation for some of the costliest drugs, analysts are predicting that the attacks on the law are unlikely to delay the negotiation process. AARP recently filed an amicus brief and joined two more lawsuits in support of HHS and their commitment to continue the Medicare negotiation process in spite of the legal challenges. We won’t stop fighting to ensure that Medicare preserves its power to negotiate lower drug prices for patients. — (Endpoints, Star Tribune, Bloomberg Law, Yahoo Finance, AARP)
2. The Widely-Supported Inflation Reduction Act
Sweeping support of the drug price reforms in the Inflation Reduction Act continues as members of Congress proudly spread the word about how the law is helping their constituents. Rep. John Larson shared that thousands of people in his district are already saving upward of $500 a year and Rep. Jimmy Panetta stated that 3,000 people in his district are saving an average of $330 this year due to the $35 monthly insulin copay cap. Rep. Terri Sewell explainedthat the cap on out-of-pocket costs and insulin copay cap “will provide even more breathing room for Alabama families” and Senator Sheldon Whitehouse spoke with constituents about how the law also stops drug makers from raising their prices faster than inflation. And don’t forget, there’s strong support across party lines for the provisions in the new law, with over 80 percent support for capping out-of-pocket costs and allowing Medicare to negotiate lower prices. — (We-Ha, Monterey Herald, Selma Times-Journal, ABC6)
3. Big Pharma Greed & Influence
This week, The Department of Justice (DOJ) held two pharma giantsaccountable for price fixing charges in which the companies admitted to employing antitrust tactics to raise the prices of essential medicines. Generic drug makers Teva and Glenmark will have to pay $225 million (“the largest to date for a domestic antitrust cartel”) and $30 million in criminal penalties, respectively. In more news in exposing Big Pharma, a new research letter published in JAMA examined 50 patient advocacy groups with the highest revenue and found that 75 percent had board members or senior staff with ties to the pharmaceutical industry. This study comes on the heels of P4AD’s new report update — Hiding in Plain Sight — which ties many patient advocacy organizations’ statements and policies to industry positions that oppose lower drug prices. It’s clear that Big Pharma puts profits over patients and we’ll continue to shed light on the industry’s shady tactics until everyone can afford the medications they need. — (The Hill, The Department of Justice, JAMA, MedPageToday)
Have a great weekend!
Special Edition! The Inflation Reduction Act turns 1! 🎂🎈
ICYMI, here’s a quick roundup of how we at P4AD celebrated and defended the drug price provisions in the Inflation Reduction Act on it’s one year anniversary:
1. Launch Of P4AD’s Bilingual Advocacy Hub
P4AD celebrated the new law’s anniversary by launching our advocacy hub in Spanish. The hub, all about the Inflation Reduction Act, breaks down the drug price reforms in the new law and provides tools for advocates to share their stories about high drug prices. P4AD’s Merith Basey remarked: “Latinos, many of whom are Spanish speakers, are disproportionately impacted by high drug prices and as part of our commitment to lowering drug prices we want to ensure more patients across the country are not only made aware of these new provisions, but understand how they will be able to benefit from them now and in the future.” Patient advocate Maria Sanchez is already feeling the impact of the $35 insulin copay cap: “This copay cap for insulin has saved me money that I can use to buy healthier food for my family, visit my grandchildren more often, or no longer skip out on my test strips,” she said upon the launch of the advocacy hub. We are excited for patients to continue to share their stories about how the new law is lowering drug prices and bringing medicines more within reach.
2. Amicus Brief, Rally, And Petition To Stop Medicare Negotiation Lawsuits
In response to drug companies’ recent ridiculous lawsuits to block Medicare negotiation, P4AD joined Public Citizen and three other health care advocacy groups in filing an amicus brief in support of the Department of Health & Human Services (HHS)’s fight to reject the Chamber of Commerce’s suit topause the Medicare negotiation program. Additionally, over 150,000 people signed a petition demanding Big Pharma drop the “unconscionable” lawsuits to halt the historic negotiation of drugs for people on Medicare. Advocates rallied and held a press conference outside of the Chamber of Commerce on Wednesday to deliver the letter and petition. Patient advocate Jacqueline Garibay, a 22-year-old student from Austin, Texas, who lives with ankylosing spondylitis, spoke at the press conference about the impact of negotiated drug prices on patients: “The new drug price reforms are projected to save patients like me tens of billions of dollars.” P4AD is proud to stand with these organizations and advocates to defend Medicare negotiation, an historic step in the fight to rein in high drug prices and end Big Pharma’s unfettered pricing power.
3. New Op-Ed Defending Medicare Negotiation
This week, P4AD’s David Mitchell penned an opinion piece in The Hill setting the record straight about how Big Pharma’s lawsuits to stop Medicare negotiation would hurt patients. David lives with an incurable cancer and his prescription drugs carry a list price of almost $1,000,000 per year. “Eliquis, a blood thinner I must take that is likely to be one of the first drugs negotiated, has a list price of $6,825 per year in the U.S. because its maker, Bristol-Myers Squibb, has blocked competition,” David writes. “In Canada, where there is a generic, the price is $1,680.” The op-ed outlines how passage of the Inflation Reduction Act a year ago ended a nearly 20 year history during which Big Pharma reaped great profit from a prohibition on Medicare negotiating drug prices. He debunks drug companies’ claim that the new law will reduce drug innovation and explains that “drug companies will get higher prices for high-quality, innovative drugs.” Drug corporations’ “priorities are power and profit. Always,” David asserted. “We will support the legal fight against the pharmaceutical industry, and do all we can to make sure the courts understand how patients will be harmed if the law is delayed or overturned.” Read the full piece here.
Have a great weekend!
Patients Across The Country Are Feeling Relief From The Law’s Drug Price Reforms And Will Continue To Pay Lower Prices In Years To Come
WASHINGTON, D.C. — On the one year anniversary of the passage of the Inflation Reduction Act, Patients For Affordable Drugs Now (P4ADNow) marked the moment by launching a Spanish language version of its advocacy hub, es.medicarenegotiation.org. The site includes an explanation and timeline of the Inflation Reduction Act drug price reforms and tools for advocates to share their story and take action.
“Patients For Affordable Drugs Now is thrilled to celebrate the one year anniversary of the drug price provisions in the Inflation Reduction Act by launching our advocacy hub in Spanish,” said Merith Basey, executive director of Patients For Affordable Drugs Now. “Latinos, many of whom are Spanish speakers, are disproportionately impacted by high drug prices and as part of our commitment to lowering drug prices we want to ensure more patients across the country are not only made aware of these new provisions, but understand how they will be able to benefit from them now and in the future.”
Patient advocates like Maria Sanchez of Atlanta, Georgia, are already feeling the impacts of the new law. Maria takes Toujeo insulin to manage her diabetes. Before the Inflation Reduction Act, a box of three pens was priced at $259.
“Now, Medicare Part D copays for insulin are capped at $35 for a month’s supply. This copay cap for insulin has saved me money that I can use to buy healthier food for my family, visit my grandchildren more often, or no longer skip out on my test strips,” Maria shared. “These savings will bring consistency to my payments, improve my quality of life, and allow me to purchase the drugs and health supplies I need.”
The groundbreaking drug price reforms in the Inflation Reduction Act, which passed August 16, 2022, included:
Medicare negotiation: For the first time ever, Medicare is required to negotiate the prices of certain high-cost drugs — finally undoing the nearly 20-year ban on Medicare using its purchasing power to get a better deal for people in the United States.
Curbing drug company price gouging: For the first time ever, the Inflation Reduction Act will penalize drug companies for increasing drug prices faster than the rate of inflation.
Medicare Part D out-of-pocket caps: For the first time ever, there will be an annual limit on the amount people on Medicare pay for the prescriptions they pick up at the pharmacy. In 2025, that limit is set at $2,000, when right now some people pay more than $15,000 out-of-pocket each year.
$35 monthly insulin copay cap for Medicare: Starting earlier this year, people on Medicare now pay no more than $35 per monthly prescription for insulin.
Free vaccines: Starting earlier this year, vaccines are now free for people on Medicare.
P4ADNow’s advocacy hub is available in Spanish here and in English here.
————————-
P4ADNow Celebra Un Año De Aniversario De La Ley De Reducción De La Inflación Con El Lanzamiento De Herramienta Digital En Español
Pacientes Alrededor Del País Se Sienten Aliviados Por Las Reformas De Los Precios De Los Medicamentos Y Continuarán Pagando Precios Más Bajos En Los Años Que Vienen
WASHINGTON, D.C. — En el primer aniversario de la aprobación de la Ley de Reducción de la Inflación, Patients For Affordable Drugs Now (P4ADNow), marcó el momento con el lanzamiento de una versión en español de su herramienta digital, Es.medicarenegotiation.org. El sitio incluye una explicación y un cronograma de las reformas en los precios de medicamentos de la Ley de Reducción de la Inflación y herramientas para que activistas compartan su historia y tomen acción.
“Patients For Affordable Drugs Now se complace en celebrar el primer aniversario de las provisiones de los precios de medicamentos en la Ley de la Reducción de la Inflación al lanzar nuestro centro de defensa en español,” dijo Merith Basey, directora ejecutiva de Patients For Affordable Drugs Now. “Los Latinos, muchos de los cuales son hispanohablantes, son desproporcionadamente afectados por los precios altos de los medicamentos y como parte de nuestro compromiso de reducir los precios de los medicamentos, queremos asegurarnos de que más pacientes en todo el país no solo estén al tanto de estas nuevas provisiones, sino que comprendan cómo ellos podrán beneficiarse de ellos ahora y en el futuro”.
Pacientes defensores como Maria Sanchez de Atlanta, Georgia, ya están sintiendo los impactos de la nueva ley. Maria toma la insulina Toujeo para controlar su diabetes. Antes de la Ley de la Reducción de la Inflación, una caja de tres injecciones tenía un precio de $259.
“Ahora, los copagos de la Parte D de Medicare para la insulina tienen un tope de $35 por el suministro de un mes. Este tope de copago para la insulina me ahorrado dinero que puedo usar para comprar alimentos más saludables para mi familia, visitar a mis nietos con más frecuencia o dejar de faltar mis tiras reactivas”, compartió Maria. “Estos ahorros traerán consistencia a mis pagos, mejorarán mi calidad de vida, y me permitirán comprar los medicamentos y suministros de salud que necesito.”
Las reformas pioneras de los precios de medicamentos en la Ley de la Reducción de la Inflación, que se aprobó el 16 de Agosto, 2022, incluyeron:
Negociación de Medicare: Por la primara vez, Medicare debe de negociar los precios de ciertos medicamentos de alto-costo – lo que finalmente deshace la prohibición de casi 20 años de que Medicare use su poder adquisitivo para obtener un mejor trato para las personas en los Estados Unidos.
Frenar el aumento de precios de las compañias farmacéuticas: Por la primera vez, la Ley de la Reducción de la Inflación penalizará a las compañías farmacéuticas por aumentar los precios de los medicamentos más rápido que la tarifa de inflación.
Límites de gastos de bolsillo de la Parte D de Medicare: Por primera vez, habrá un límite anual en la cantidad que las personas con Medicare pagan por las recetas que recogen en la farmacia. En 2025, ese límite se establece en $2,000, cuando en este momento algunas personas pagan más de $15,000 de su bolsillo cada año.
Límite mensual de copago de insulina de $35 para Medicare: A partir de principios de este año, las personas con Medicare ahora no pagan más de $35 por receta mensual de insulina.
Vacunas gratuitas: A partir de principios de este año, las vacunas ahora son gratuitas para las personas con Medicare.
El herramienta digital de P4ADNow está disponible en español aqui y en inglés aqui.
###
Welcome to the Week in Review.
1. Report Update: Hiding In Plain Sight
This week, P4AD released a new report update — Hiding in Plain Sight — that examines the intertwined relationships between the drug industry and three groups purporting to represent the interest of patients: The Haystack Project, No Patient Left Behind, and the Community Oncology Alliance. This research is an update to P4AD’s 2021 report, The Hidden Hand, which detailed the financial ties that drug corporations have to patient groups and their resulting influence in blocking legislation to lower drug prices. The key findings of the update to the report clearly connectallthree groups back to drug corporations and trade associations. “Pharma pumps money into physician groups, researchers, academic medical centers, advocacy groups, and the exact funding is almost never disclosed,” said P4AD founder David Mitchell. Both Hiding in Plain Sight and The Hidden Hand are intended as a guide for policymakers, elected officials, and the media to understand how many patient advocacy groups are affiliated with the drug industry. Of note, P4AD accepts no funding from any organization that profits from the development or distribution of prescription drugs. — (P4AD)
2. Momentum For Drug Price Reforms In Senate
There continues to be a growing appetite to advance bipartisan drug price reform in the Senate as members are out on recess. Senate Finance Committee Ranking Member Mike Crapo spread the word to constituents about bipartisan legislation advanced out of the Finance committee that addresses the lack of transparency within the pharmacy benefit manager (PBM) industry. P4AD’s Sarah Kaminer Bourland spoke to Axios about transparency requirements in the PBM bills: “Sunshine is the best medicine, and we think transparency is worth it, because then we can have at least clear incentives and work to undo some of the perverse ones.” Advocates are also pushing the Senate to pass reforms to our patent and regulatory systems that address Big Pharma’s exploitation and profit scheming. A new study in JAMA found that between 2000-2015, there was a 200 percent increase in patents filed by companies that made minor tweaks to their drugs. This form of patent gaming delays generic drugs from coming to market and leaves patients with no choice but to pay more for costly brand-name drugs. Merck is close to becoming the lead offender of patent abuse for its cancer drug Keytruda. Merck increased Keytruda’s price this year by an extra $200 per dose, even though “nothing meaningful about the drug has changed,” Axios reported. This is unacceptable, shady behavior for an industry that claims its drug prices are tied to innovation. Thankfully, Majority Leader Schumer plans to bring to the floor a health care package that could combine reforms addressing PBMs, promoting competition, and increasing transparency once members return to session in September. It’s time to make sure our drug price system puts patients first! — (KMVT, Axios, JAMA, Axios, Punch Bowl News)
3. The Inflation Reduction Act Brings On The Savings!
Passage of the historic Inflation Reduction Act marks its first anniversary next week and lawmakers and advocates are celebrating how the drug price reforms help patients. A new report from AARP underscores the significance of the inflationary rebates to limit drug price increases to the rate of inflation. The report found that list prices for the top 25 drugs with the highest Medicare spending in 2021 increased by an average of 226 percent since they first came to market. Many of these high-priced drugs listed in the report are anticipated to be considered for the widely supported Medicare negotiation program, which will not only reduce drug costs for patients, “but it will save taxpayers hundreds of billions of dollars,” Senator Tammy Baldwin explained. The historic drug price law has already delivered significant relief to patients in just one year. Susan from Michigan delayed getting her shingles vaccine “because, as a senior on a fixed income, the $400 copay was cost prohibitive” — but she’s now relieved that the new law eliminates cost sharing for vaccines. Senator Joe Manchin celebrated the huge cost savings for West Virginians from the $35 monthly insulin copay cap and president of Maryland’s Health Care For All, Vinny DeMarco cited the cap as the “number one cost-saver in the state,” providing relief to about 50,000 Marylanders on Medicare. Finally, patients are getting long awaited relief from high drug prices — we look forward to the soon-to-be implemented provisions that will bring even more savings. — (AARP, AARP, Post-Standard, WXOW, Center For American Progress, The Hill, WMDT, The Baltimore Sun)
BONUS: In this edition of Big Pharma’s shady behavior: Drug companies shift profits overseas to low-tax jurisdictions in order to line their coffers with billions of dollars. People in the United States pay some of the highest drug prices in the world and receive “none of the benefits” from the U.S. pharmaceutical industry, reportedBusiness Insider.
Have a great weekend!
Happy 58th Birthday, Medicare! Only 7 more years until you’re eligible for yourself 🥳
Welcome to the Week in Review.
1. The Inflation Reduction Act: Building on Medicare’s Reach To Patients
Medicare celebrated its 58th anniversary this week and patients are applauding the drug price reforms in the Inflation Reduction Act as it builds on the legacy of the monumental program. When marking the anniversary, Democratic National Committee (DNC) Chair Jaime Harrison cited the program’s history as a “critical lifeline” and emphasized how the new drug price law builds on this legacy by “allow[ing] Medicare to negotiate drug prices, cap seniors’ insulin costs at $35 a month, and create a $2,000 yearly cap on seniors’ out-of-pocket drug costs;” Senator Mark Kelly touted the reforms as a huge step towards reining in Big Pharma’s pricing power; and State Director of AARP Oregon, Bandana Shrestha stated that the reforms’ impact on the 66 million people on Medicare will be “immense.” Jean Busby of North Carolina knows the danger of being unable to afford insulin all too well. She’s had to make several emergency room trips due to “dangerously low blood sugar levels” — but now with the $35 monthly insulin copay cap, she won’t have to ration her insulin which will help her better manage her condition. Steve Knievel of Public Citizen emphasized why Medicare negotiation was so long overdue: “It’s obscene. These drug corporations have made — across the board for the first set of drugs that are going to be negotiated — they’ve made tens of billions of dollars already.” It’s true! Blockbuster drugs like Keytruda grew 19 percent in sales as its manufacturer Merck filed a bogus lawsuit to try to block Medicare negotiation. Patients aren’t fooled — we’ll continue to honor Medicare’s anniversary by ensuring taxpayers and patients get a better deal through negotiation. — (DNC, Arizona Republic, Kiowa County Press, NC Newsline, The Hill, Precision Medicine Online)
2. Buildup To September’s Congressional Session
Congress is in recess until September and the pressure is on to advance bipartisan drug price reforms once members return. Before Congress adjourned, the Senate Finance Committee advanced legislation addressing the opaque practices of pharmacy benefit managers (PBMs) and Chairman Ron Wyden and Ranking Member Mike Crapo previewed that more PBM legislation will be up for votes in the coming months. These PBM reforms are expected to be combined with bipartisan legislative packages that have passed out of the Senate Health, Education, Labor and Pensions (HELP) and Senate Commerce committees, Politico reported. Similarly in the House, members across committees are gearing up legislation on drug price transparency and PBM practices to be voted on this September. Reforms addressing competition, PBMs, and transparency could be combined with “must pass” health measures in a bipartisan package when Congress returns in September. Congress: keep up the good work! — (Politico, Axios)
3. Patent Abuse: “Profits At Any Price”
More evidence this week that drug companies game the patent system to extend market exclusivity on drugs and rake in obscene profits. A new study published in JAMA found that the manufacturers of a new class of obesity and diabetes drugs have filed for an average of nearly 20 patents perproduct, securing a median of 18.3 years of market exclusivity after FDA approval for these blockbuster products. “More than half of all patents were obtained on the delivery devices rather than active ingredients,” wrote the authors of the study. This latest example of patent abuse highlights the urgent need for reforms to our patent and regulatory systems. Without reforms that address this issue, drugs will continue to be priced out of reach for patients — like the blockbuster drug Humira. AbbVie blocked any competition to Humira via patent thickets for nearly 20 years and forced patients to pay high, unjustified prices. Dr. Patrick Neustatter wrote in an op-ed, “It is, of course, the job of any company to make money, but today’s mantra seems to be “profits at any price.”” Drug corporations will do anything to maximize their profit margins, even at the expense of patients. We urgently need to fix our rigged patent system to ensure that generic competition can come to market to drive down drug prices! — (Axios, The Free Lance-Star)
BONUS: P4AD submitted comments to the NIH ahead of its workshop Monday, calling on the agency to address the issue of fair pricing for all NIH and taxpayer-funded drugs and make the workshop patient-centered. Worth a read!
