Implementation of the drug price reforms in the Inflation Reduction Act continues as the Biden administration, health care advocacy groups, and elected officials share how the law is delivering long-sought relief to patients. At a Department of Health and Human Services (HHS) roundtable, HHS Secretary Xavier Becerra and health care advocacy groups discussed how they can better educate consumers on the new reforms for patients on Medicare. Becerra emphasized the critical role these groups play in educating patients about the provisions that have already taken effect — capping insulin copays at $35 a month, and, for the first time, making all vaccines free. Pennsylvania Lieutenant Governor Austin Davis shared remarks at Protect Our Care’s tour stop about how the reforms make essential medications more affordable: “This is an issue that affects real Pennsylvanians. It’s really important because the insulin and prescriptions are just outrageous right now. So, they need to have a break. I mean, myself alone, when I go for one medication, it’s $400. They cannot afford $400.” Finally, patients are seeing lower drug prices from the historic new law — and we’re eagerly awaiting the relief to continue as the other provisions are implemented in the future. — (HHS, WGAL)
2. Medicare Negotiations Are Crucial For Patients
The Inflation Reduction Act’s Medicare Drug Price Negotiation Program will allow Medicare to negotiate lower prices on expensive, widely-used medications and undoubtedly bring savings to millions of patients. “It means that, for the first time, there will be an ability to have a little bit of counterweight to the pharmaceutical industry,” Andrea Ducas, Vice President of health policy at the Center For American Progress, told Fortune. When lower negotiated drug prices arrive in 2026 they will be monumental for patients on Medicare including those taking cancer drugs, blood thinners, autoimmune disease treatments, and some diabetes drugs. Last year, Bristol Myers Squibb blood thinner Eliquis, one of the drugs selected for the first round of Medicare negotiations, made “$11.8 billion in revenue…about 25% of the company’s $46 billion in total revenue in 2022.” C. Joseph Ross Daval and Aaron S. Kesselheim, drug price experts at the Program on Regulation, Therapeutics and Law (PORTAL) at Brigham & Women’s Hospital and Harvard Medical School, penned an op-ed in the Washington Post that debunks the claims made in recent lawsuits by pharmaceutical corporations to stop Medicare negotiations. The drug industry is trying to “achieve what it could not through the legislative process — maintaining unreasonably high brand-name drug prices at the expense of the American public.” wrote Daval and Kesselheim. Medicare negotiation will deliver relief to patients who have been forced to pay high drug prices and we won’t back down in our fight to ensure the successful implementation of this historic reform. — (Fortune, Accountable.US, The Washington Post)
3. Big Pharma Puts Profits Over Patients
While Big Pharma loves to shed crocodile tears about drug price reforms hurting their revenue stream, it turns out that actually — they are doing more than fine. In fact, they are exceeding expectations on profit margins and doubling down on lobbying efforts. This week, Novartis raised its full-year earnings forecast for the third time. Keytruda, Merck’s blockbuster drug, has seen “significant revenue growth” since last quarter, with sales growing 17 percent to $6.3 billion. The Pharmaceutical Research and Manufacturers of America (PhRMA) spent over $20 million this year on lobbying, making the trade group one of the top spenders in the industry. It’s clear that Big Pharma executives are busy lining their pockets with piles of cash. All the while, patients are struggling to afford their medications. Nearly 40 percent of working-age adults reported skipping or delaying necessary health care or a prescription drug in the past year due to cost, according to a recent survey by the Commonwealth Fund. It’s time to prioritize the health and financial well-being of patients over profit margins. Lower drug prices for all patients now. — (Reuters, SeekingAlpha, Merck, CQ Roll Call, Commonwealth Fund)
BONUS PHOTO: Check out our long time P4AD patient advocates Sue, Lisa, Judy, and a shout-out to Pamela who met with their respective senators on Capitol Hill to share their experiences with high drug prices and what competition would represent to them! Way to go ladies!
Have a great weekend!
Quick note to readers: This was Audrey’s last week (in review) at P4AD! She’s been honored to be in your inbox for the last couple years. We’ll be excited to announce P4AD’s incoming communications and media director very soon and we’ll see you here next week as usual.
Welcome to the Week in Review.
1. Enrolling In Medicare? The Inflation Reduction Act Will Bring Savings
The annual open enrollment period for people on Medicare kicked off this week – this time with added drug price savings built into the Inflation Reduction Act. Beginning in 2024, drug price reforms like the cap on out-of-pocket costs for patients on Medicare who fall into the “catastrophic” coverage tier are “going to help people who have very expensive medications for conditions like cancer, rheumatoid arthritis, and hepatitis,” said KFF’s Tricia Neuman. The cap will begin to phase in next year when people on Medicare will pay zero after they reach the catastrophic phase of Medicare Part D which should be at about $3,250-3,500 in spending. Senator Sheldon Whitehouse touted the provisions in the historic law and explained that the reforms are “lowering health care costs for seniors, and finally breaking the grip of Big Pharma, providing much-needed relief to Rhode Islanders on Medicare.” In a letter-to-the-editor, Diane J. Young cited Medicare negotiation as an important way to push back on the rising costs of prescription drugs in the U.S. For Bob in Nevada, lower drug prices through Medicare negotiation will save him money on his blood thinner medication, Xarelto — one of the most expensive medicines in Medicare Part D. Further in the coming years, patients living with cancer are going to see significantly lowered costs for their treatments because of Medicare negotiations and the $2,000 cap on out-of-pocket costs, explained Joshua Cohen in a column for Forbes. The savings will just keep coming – we’re excited for patients across the country to enroll in Medicare and feel the relief in their pocketbooks from the Inflation Reduction Act. — (KFF, The Newport Buzz, The Washington Post, Nevada Current, Forbes)
2. Patients Depend On Patent & Regulatory Reforms
While Congress is sorting out its end-of-year package bill (as well as the Speaker of the House), elected officials and drug price experts are pushing for passage of bipartisan bills to curb patent and regulatory abuses and increase competition to lower drug prices. Former Texas Rep. Joe Barton penned an op-ed that breaks down the tactics that Big Pharma employs to keep drug prices high, like “pay-for-delay” in which drug companies pay off generic makers to delay their drugs from coming to market. Earlier this month, the Mayo Clinic and LifePoint Health filed a lawsuit against Celgene over its multiple myeloma drug Revlimid — alleging that the drug company engaged in pay-for-delay deals to stall the sale of generic versions of the drug. “Whether the current legal landscape for pharmaceutical patents is good policy is a hotly debated topic,” wroteUPenn fellow Laura Delbow in an opinion piece. “Yet one thing is certain: Patents are a key reason why drug prices are so high.” We couldn’t agree more. Thankfully, there are bipartisan policies to rein in Big Pharma’s manipulation of our patent and regulatory systems. Senators, time to advance these bills. — (Irving Weekly, Fierce Healthcare, The Regulatory Review, Des Moines Register)
3. Addressing Launch Prices Of Gene Therapies
Revolutionary cell and gene therapies will transform the lives of patients and offer potentially curative benefits. But these therapies are coming to market at outrageously high launch prices that put profit over the needs of patients and our health care system. P4AD’s David Mitchell told Bloomberg that these treatments will be “miraculous,” but a pressing question looms for patients about how to reach a fair price. Patients like David may one day turn to second line treatments like gene therapy to treat their conditions and will depend on the price being within reach. We need to address the high launch prices that Big Pharma charges patients and taxpayers. Drugs don’t work if people can’t afford them. — (Bloomberg)
PRICE GOUGING ALERT: This week we learned Pfizer plans to set the U.S. price for its COVID-19 antiviral treatment Paxlovid at nearly $1,400. That’s more than double what the government currently pays and far more than what it costs to make. Outrageous.
Have a great weekend!
Welcome to the Week in Review.
1. Senators Celebrate Drug Price Reforms With Patients
This week, Senators met with constituents in their states — and the drug price reforms in the Inflation Reduction Act were top of mind. Senators TimKaine and TammyBaldwin discussed the benefits of lower negotiated prices for patients on Medicare and the $2,000 cap on out-of-pocket costs in their respective states. At a roundtable led by Senator Jacky Rosen and Centers For Medicare & Medicaid Services (CMS) Director Meena Seshamani, an outpour of Nevada residents in attendance praised the $35 monthly insulin copay cap as a huge relief to their drug costs. “I was an immediate beneficiary of the drop in insulin rates,” said David Berman, a retired attorney who lives with type 1 diabetes and participated in the roundtable discussion. “We were paying the $70 a month (per dose) and starting at the beginning of the year, $35 a month. That adds up.” In New Mexico, Senator Luján hosted a town hall with health care experts and local advocates who all touted the monthly insulin copay cap as a victory for patients on Medicare. “I am proud to have helped enable Medicare to negotiate the price of drugs,” Senator Baldwin remarked. “Negotiating drugs under Medicare will not only help our seniors but it will help drive down prices for those with private health insurance.” Couldn’t agree more – the Inflation Reduction Act provides the long-awaited relief millions of patients desperately need. — (WTVR, Richmond Times-Dispatch, Office of Senator Tammy Baldwin, The Freeman, Las Vegas Sun, Albuquerque Journal)
2. Medicare Negotiation: A Monumental Step For Patients
Health care experts and advocates continued to debunk Big Pharma’s weak claims about Medicare negotiation and highlighted the many ways the new program will help patients. P4AD’s Merith Basey sat down with MedCity News at the 2023 HLTH Conference to discuss how the Medicare negotiation program is highly favorable among people living in the U.S. “Recent polls have also shown that it doesn’t matter on which side of the aisle you sit. Over 80% of people in this country believe that Medicare should negotiate.” In a letter to the editor, Dr. Elmore Rigamer explained that U.S taxpayers fund a large share of basic research leading to new drugs. LA Times Columnist Michael Hiltzik penned a piece about how Big Pharma is “whining about having to negotiate with Medicare,” when clearly the industry isn’t strapped for cash: “As the Democratic staff of the House Oversight and Reform Committee reported in December 2021, the largest drug companies spent more on dividends and stock buybacks ($578 billion) than R&D ($522 billion) from 2016 through 2020,” Hiltzik explained. Drug corporations’ efforts to thwart negotiations won’t withstand. Patients have faced the high cost of prescription drugs for too long, and lower negotiated prices are on the way. — (AARP, MedCity News, The Advocate, The Los Angeles Times)
3. Momentum For Reforming Our Patent And Regulatory Systems
More momentum this week to restore fairness in our patent system and allow competition to lower drug prices for patients. The Center For American Progress (CAP) published a new report that highlights our rigged drug price system and recommends key bipartisan legislation to curb abuses of the patent system by drug companies. The report dives into the different patent abuse tactics — like product hopping, patent thickets, and sham citizen petitions — that Big Pharma takes on to preserve its monopoly pricing power. In an op-ed, Montana Rep. Mike Yakawich further echoed that there are currently bipartisan solutions in Congress to rein in Big Pharma’s aggressive patent abuses. Registered Nurse Jaclyn Clark penned an op-ed that explains how these “perverse and unfair practices” lead to the high prices that Mainers are paying at the pharmacy. Patients deserve access to medications they need at prices they can afford. We urge the Senate to pass bipartisan legislation to advance legislation that curb these abuses of our patent and regulatory system and promote competition to lower drug prices. — (Center For American Progress, Ravalli Republic, Portland Press Herald)
Have a great weekend!
Welcome to the Week in Review.
1. A Big Win For Medicare Negotiation
It’s official — Medicare has started negotiations with all the makers of the first 10 drugs selected. P4ADNow’s Merith Basey celebrated this important step inthe movement towardsloweringprices for the millions of patients who take these essential and costly medications including cancer treatments, blood thinners, autoimmune disease treatments, and some diabetes drugs. According to the White House, “the 10 drugs selected for negotiation accounted for $3.4 billion in out-of-pocket costs for an estimated 9 million Medicare enrollees in 2022.” Lower negotiated drug prices will bring savings to millions of patients on Medicare when the negotiation program takes effect in 2026. It comes as no surprise that voters across party lines support implementation of the Medicare negotiation program and overwhelmingly — by more than a five-to-one margin — oppose the lawsuits trying to halt the negotiation process. We’ll keep fighting for successful implementation of Medicare negotiations to ensure patients and taxpayers get a better deal on these widely-used, high cost medications. — (P4ADNow, CMS, The New York Times, The White House, Times-News, Forbes)
2. Push For Competition To Lower Drug Prices
Patients have been financially burdened by expensive prescription drugs for far too long and urgently need generic and biosimilar competition to enter the market to lower prices. Compared to peer nations, the U.S. spends more than twice as much on prescription drugs per person, according to a recentstudy by the Commonwealth Fund. The authors of the study found that prescription drug prices are two to three times those in other nations, with branded drugs accounting for 80 percent of prescription drug spending. These essential medications are priced out of reach for patients, who are forced to risk putting their health in jeopardy by not taking their drugs as prescribed. A CDC report in 2021 estimated that of the “60% of adult Americans who took at least one prescription drug in the past year, 9.2 million (8%) did not take their medications as prescribed to save money.” This is not acceptable. A solution? Generics and biosimilars can drive down prices. A recent Department of Health and Human Services (HHS) report found that biosimilars have significantly lowered costs for patients on Medicare and assessed that they can be used more widely to increase savings. Thankfully, there is a real opportunity in Congress to pass bipartisan legislation that increases generic and biosimilar competition to lower drug prices for patients. Let’s get it done. — (Medical Economics, Commonwealth Fund, Public Citizen, CDC, HHS, Politico)
3. Patients Need Affordable Vaccines
Everyone deserves access to live-saving vaccines. Yet, even when research leading to the development of vaccines is primarily taxpayer funded, Big Pharma often swoops in once they are considered profitable, and is able to dictate their price. This week, two pioneering scientists — Katalin Karikó and Drew Weissman — whose decades-long research in mRNA technology lead to the development of the COVID-19 vaccines, were awarded the Nobel Prize in Physiology or Medicine. P4AD’s David Mitchell applauded the scientists, and highlighted that the taxpayer grants funded their pivotal research and saved millions of lives: “The foundational work by Karikó, Weissman with the support of [the National Institutes of Health] NIH enabled the mRNA technology to be ready for development in record time when COVID-19 attacked the world in 2020.” In 2022, drug companies planned to raise the price of their COVID-19 vaccine more than six times what the U.S. government initially paid. Classic Big Pharma putting profits before patients. In a powerful essay published by ProPublica, Anna Maria Barry-Jester detailed how drug company GSK delayed rollout of its tuberculosis (TB) vaccine, developed with government and non-profit funding, to pursue more lucrative business opportunties. Profiteering from pandemics and deadly disease is abominable. The U.S. government and taxpayers deserve better, especially after footing the bill for key research that has helped and improved countless lives. — (The New York Times, ProPublica)
Have a great weekend!
Welcome to the Week in Review.
1. A Big Win For Medicare Negotiation
Marking an historic step in ensuring successful implementation of the Medicare negotiation program, a federal judge issued a court ruling yesterday that denied the Chamber of Commerce’s lawsuit to halt the negotiation process. P4ADNow’s David Mitchell celebrated the news following the announcement: “Today’s court ruling is an important victory for patients and all Americans, and demonstrates the weakness of the industry’s objections to Medicare negotiation to lower prescription drug prices under the Inflation Reduction Act.” This ruling comes just before the October 1 deadline for manufacturers of the first 10 eligible drugs selected for negotiation to sign an agreement with Medicare to participate in the process. For patients on Medicare, lower negotiated prices will mean lower out-of-pocket costs and increased use of these expensive drugs. As a reminder, these 10 drugs eligible for negotiation include cancer treatments, blood thinners, autoimmune disease treatments, and diabetes drugs. Considering that prescription drugs cost “2.56 times more” than in other countries, it’s clear why 80 percent of Americans support the new law allowing Medicare to negotiate lower drug prices. Mark, an AARP member from Rhode Island, knows the stress of trying to afford high cost medication all too well: “I am unable to afford the thousands of dollar co-pays for the rheumatoid arthritis drug Enbrel…I had to skip dosages.” With Enbrel on the list of the first 10 drugs to be negotiated, patients like Mark will get a better deal on this high priced medication and worry less about going without. We are eager for the negotiation process to begin in October – it’s time for Medicare, for the first time ever, to have a say in negotiating a fair price for these outrageously priced medications. — (CNBC, KFF, Commonweal, AARP)
2. Time To Stop Big Pharma Patent Abuses
Amidst a potential government shutdown, elected officials and drug price experts continue to advocate for reforms that address abuses of our patent and regulatory systems and encourage generic and biosimilar competition to be included in the omnibus package. In an interview with Salon, Senator Amy Klobuchar deftly explained the tactics that Big Pharma employs to preserve their monopolies like “pay-for-delay,” “product hopping,” and abuse of the citizen petition process. Thankfully, Senator Klobuchar is leading bipartisan legislation to curb these patent and regulatory abuses and encourage generic competition coming to market. Professor Sean Tu explained to STAT that years of patent abuses by Big Pharma has led to outrageous profit margins: “Humira made $21 billion last year. From what I understand, that is as much as McDonald’s.” Tu continued, “the fact that the moment a patent expires competition leads to dramatic price drops is a quintessential case of markets regulating themselves … and they shouldn’t be allowed to exploit loopholes to extend monopolies.” Drug companies game our patent and regulatory systems so they can pad their pockets with profit by setting outrageous prices. We need to pass bipartisan reforms to fix this injustice and lower drug prices for patients. — (Salon, The Blaze, STAT)
3. Sickle Cell Awareness & The Looming Question Of High Launch Prices
We’re on the cusp of remarkable, potentially curative cell and gene therapies coming to market, but the high price tags attached to these promising treatments draws concerns about how patients and the health care system will afford them. Treatments for sickle cell disease are on the horizon and patients are eager to access this new groundbreaking treatment. Approximately 100,000 people in the U.S. live with sickle cell disease, of which Black and Hispanic populations are disproportionately impacted. The two current gene therapies under FDA review are expected to be priced between $2 and $3 million dollars. The opportunity for patients who’ve faced a “lifetime of restricted activity and pain” to finally live a healthier lifestyle will be pushed further out-of-reach given this staggering price. We need to bring reforms to our system that address high-priced gene and cell therapies so that everyone can afford life-saving drugs. (CMS, Managed Healthcare Executive)
BONUS WATCH: Check out P4AD’s Bilingual Organizer & Program Assistant Jesse Aguirre celebrate National Hispanic Heritage Month in this new video! Worth a watch.
Have a great weekend!
Welcome to the Week in Review.
1. New Poll: Americans Oppose Big Pharma’s Assault On Medicare Negotiation
On Tuesday, P4ADNow released a new poll that confirms what we already know: Americans overwhelmingly – by more than a 5-to-1 margin – oppose the pharmaceutical industry’s lawsuits attempting to block Medicare from directly negotiating lower prescription drug prices. “The American people understand the lawsuits to block lower drug prices through Medicare negotiation are not about looking after the best interests of patients and consumers,” said P4AD’s David Mitchell. The poll found that drug companies’ argument that the Medicare negotiation law will lead to fewer cures is not believable to voters by a nearly 4-to-1 margin, and voters by a 6-to-1 margin say drug companies are opposing this law over profits, not because it violates the constitution. Moreover, respondents who viewed drug companies unfavorably jumped from half to two thirds upon hearing of the lawsuits and the arguments from both sides. “Efforts in Congress to undermine implementation of the Inflation Reduction Act fly in the face of the wishes of the overwhelming majority of voters,” David continued. “Elected officials who align themselves with this unpopular and greedy industry, against the will of voters, do so at their own political risk.” — (P4ADNow, Common Dreams)
2. Medicare Negotiation Restores Fairness
We may sound like a broken record, but it’s too important to understate: The Inflation Reduction Act’s provision that empowers Medicare to negotiate lower drug prices will bring savings to millions of patients. The drug industry’s arguments clearly don’t add up — patients have long awaited the relief this new program will bring, after facing huge financial burden from their life-saving medications. P4ADNow’s David Mitchell and patient advocate Steven Hadfield are among the many patients who will benefit from the Medicare negotiation, reported Jamie Smyth in a feature piece in Financial Times (see photo below). The new program balances out pharma’s unfettered pricing power and restores fairness, given that “U.S. consumers [are] footing the development costs of new pharmaceuticals,” wrote Rob Rudick in a Washington Post LTE. Voters have expressed overwhelming support for Medicare negotiation: A new Associated Press/NORC poll found that 76 percent of respondents, across party lines, supported the new law. Seven of the first 10 drugs eligible for negotiation are used to treat cardiovascular and metabolic diseases that affect millions of Americans, according to an analysis published in JAMA. We won’t let up in our fight to ensure that Medicare negotiates lower drug prices for patients who need this relief. — (Endpoints, AARP, Financial Times, The Washington Post, AP/NORC, Truthout, JAMA)
3. The Inflation Reduction Act: A Clear Win For Patients
Patients, advocates, and experts continue to push for reforms that strengthen our patent and regulatory systems and promote competition to lower drug prices. In an opinion piece, Matt Mackowiak called on Senator Bill Cassidy to “crack down on the anticompetitive practices of Big Pharma to help lower drug prices” and pass bipartisan bills that can address these patent abuses. Carrie Parvin of Alaska also wrote an LTE calling on Senators Lisa Murkowski and Dan Sullivan to support bipartisan legislation that would curb Big Pharma patent abuses and “help usher in more generics and biosimilars to market.” In a new study, the Initiative for Medicines, Access, And Knowledge (I-MAK) highlighted the drug industry’s abuse of our patent system to prolong monopoly pricing power and limit biosimilar competition. The study found that four of the leading biologic drugs that have had competition since 2019 — Humira, Avastin, Rituxan, and Lantus — reaped an astonishing combined $158 billion during their period of patent extension. Patients like Sue Lee have felt the impact of drug companies’ patent abuse that enables them to charge ridiculously high prices. Sue was forced to stop taking Humira entirely when she went on Medicare because her costs jumped due to years of annual price hikes by its maker, AbbVie. The Association for Accessible Medicines (AAM) released a report showing that in 2022, biosimilars and generic drugs saved patients, employers, and taxpayers $408 billion. Patients deserve access to medications they need at prices they can afford – time for the Senate to pass bipartisan legislation that begins to fix our broken patent and regulatory systems. — (The Hayride, Mat-Su Valley Frontiersman, I-MAK, KFF, Real Clear Health, Big Molecule Watch)
Have a great weekend!
Welcome to the Week in Review.
1. Patients Urge Senators To Curb Patent Abuses📝
Following last week’s six figure ad campaign launch, P4ADNow is continuing to push the Senate to pass a bipartisan package of bills to curb Big Pharma patent abuses and ensure competition to lower drug prices. As part of continued grassroots advocacy efforts in ten states, Jacquie Persson, a patient advocate from Iowa, shared her experience living with Crohn’s disease and explained how Big Pharma makes enormous profits from her prescribed medication, Stelara, by gaming the patent system. Johnson & Johnson is able to “make an additional $18 million” per day in revenue from Stelara’s prolonged market exclusivity in the United States through the use of patent thickets, Jacquie says in the video. Jacquie is one of many patients who have experienced unjustified high prescription drug prices because of Big Pharma’s patent abuse. As P4ADNow’s David Mitchell points out, the good news is that “there is a real opportunity to advance common sense solutions supported by both Republicans and Democrats in the Senate that will deliver relief to patients through lower drug prices,” reported Inside Health Policy this week. Reforms that address patent and regulatory abuses and allow generic competition to come to market sooner have been long-sought by patient advocates — time to get it done, Senators. — (P4ADNow, P4ADNow, Inside Health Policy)
2. Defending Medicare Negotiation
While big drug companies are throwing in the kitchen sink to try to stop Medicare negotiation, patients, advocates, and lawmakers are holding their ground in defending the historic law. This week, P4ADNow joined Public Citizen in filing an amicus brief in support of the Department of Health and Human Service (HHS)’s opposition to Merck’s lawsuit against the Medicare negotiation program. The brief explains how Merck’s patent abuses unfairly drive up drug prices for patients and calls out its false claims that the Medicare negotiation law is unconstitutional. Merck’s lawsuit wouldhurt patients like Steven Hadfield, an advocate who takes Merck’s expensive biologic drug Januvia to manage his type 2 diabetes. On the Senate floor, Majority Leader Chuck Schumer and Senator Amy Klobuchar fiercely defended the Medicare negotiation law. Several Members of Congress followed suit — Rep. Ro Khanna shamed Johnson & Johnson for price gouging its drug Imbruvica; Senator Ron Wyden explained how millions of patients will feel relief from negotiated drugs; Senator Cortez Masto highlighted the savings expected for Nevadans from negotiation; and Senator Peter Welch pushed back on Big Pharma lies about the new law curbing drug innovation. P4AD’s David Mitchell joined Bloomberg’s podcast “On The Merits” to discuss the urgent need for negotiated drug prices, especially for cancer patients facing huge costs like himself. “The drugs I take carry a list price of about $960,000 a year, just one of those drugs … cost me more than $17,000 out-of-pocket annually,” David explained. “I’m a lucky guy, I’m alive, I’m grateful, but the drugs I’m taking are way overpriced.” — (Public Citizen, Fierce Pharma, The Hill, Common Dreams, KTVZ, Office of Senator Cortez Masto, WCAX, Bloomberg Law))
3. The Inflation Reduction Act: A Clear Win For Patients
While the historic Medicare negotiation program is making headlines, patients are already saving on drug costs because of the other provisions in the Inflation Reduction Act. Reforms such as: capping the monthly cost of insulin prescriptions to $35, making vaccines free, capping out-of-pocket drug costs to $2,000 in 2025, and penalizing drug companies that raise their prices faster than inflation. The new law is already providing relief to 27,000 Minnesotanswho will benefit from the $35 monthly insulin copay cap. Quinn, a patient advocate living with type 1 diabetes, wrote in an op-ed that the new law not only delivers cost savings to patients on Medicare, but assures peace of mind knowing that access to life saving medications is being expanded. Patients on Medicare have been forced to pay unjustified high prices set by drug companies for years. “In the past year and a half, our prescriptions have skyrocketed from $100 monthly to between $350 and $450, leaving us to make tough financial decisions,” wrote New Yorker patient Dawn in an op-ed. “I am one of the people who will save hundreds of dollars each month thanks to this historic announcement.” — (Minnesota Reformer, Syracuse)
One more thing: A new contract between drug company Regeneron and HHS marks “the first time the Biden administration has directly used its leverage to challenge drugmakers’ list prices.” Rachel Cohrs at STAT has the breakdown.
Have a great weekend!
The Senate is back in D.C. and patients are bringing the heatto pass reforms! Here’s to lower temperatures and lower drug prices.
Welcome to the Week in Review.
1. P4ADNow Launches New Ads To Push For Competition First 10 Drugs Eligible For Negotiation Announced
P4ADNow launched a six-figure ad campaign this week as the Senate returned from August recess. The campaignincludes two video ads, running on digital and TV platforms in Washington D.C., which feature patients urgently calling on the Senate to pass a bipartisan package of bills to curb Big Pharma abuse and ensure competition to lower drug prices. In one ad, Jacqueline Garibay, a college student from Austin, Texas, shares her experience living with ankylosing spondylitis — an autoimmune disorder that affects most of her major joints. “The last time we had to buy my medication, I decided to forgo it. We just couldn’t afford $6,000 a month,” says Jacqueline in the TV ad. The second ad features Lisa McRipley, a Richmond, Texas patient who is on Medicare and lives with multiple sclerosis. Lisa explains in the video what it’s like to pay $7,500 a month for her medication: “But without it, my disease will progress irreversibly – I could lose my independence solely because of outrageous drug prices.” The campaign also includes digital ads as well as grassroots advocacy in ten states, thanking twelve senators for fighting to lower drug prices by ensuring passage of a bipartisan package to boost competition. Patient advocates are sending a clear message to the Senate: Lowering drug prices through curbs to anti-competitive practices and timely generic competition is crucial to patients who face some of the highest prices in the world. — (P4AD, Endpoints, Bloomberg Government, The Washington Post, The New York Times, New York Amsterdam News)
2. Overwhelming Support For The Inflation Reduction Act
Drug price advocates and elected officials continued to spread the word about the historic drug price reforms in the Inflation Reduction Act this week. P4AD’s David Mitchell joined a roundtable with Department of Health and Human Services (HHS) Secretary Xavier Becerra on the savings anticipated from Medicare negotiation. David also joined a press event with Senator Peter Welch and Families USA to celebrate the landmark announcement of the first ten drugs eligible for negotiation. P4AD’s Merith Basey explained in an interview that because the drugs eligible for negotiation are some of the most expensive for patients on Medicare, the expected savings will be substantial. “I’m thinking of a patient in Glenville who stopped taking Januvia and Jardiance because of the high cost,” wrote Senator Amy Klobuchar in an op-ed. “A lower price could be game-changing for his health and reduce his expenses.” The widely supported Medicare price negotiation program will rein in Big Pharma abuses that harm patients. While drug companies are crying wolf that revenue and innovation are at risk with Medicare negotiation, we know the truth: Big Pharma will still enjoy huge profit margins while taxpayers are the ones who fund the majority of basic development leading to new drugs. “IRA will stimulate innovation,” David explained. “This will force [drug companies] to bring better drugs, innovative drugs, to market so they can charge higher prices for them.” — (Loudoun Times, WAMC, Yes! Magazine, Cape Charles Mirror, Southern Minnesota, YouGov, Bloomberg, Chicago Tribune, Washington Post, pharmaphorum)
3. Financial Burden Of High Drug Prices
The high price of drugs forces patients to ration or even forgo their medications, reported Emma Bardin of Medcity News. Non-adherence to medication can not only worsen health complications but also represents a financial burden on the health care system, costing between $100 billion and $290 billion every year, according to a review of studies by Annals of Internal Medicine (AIM). “Financial toxicity, a term used to describe financial problems and stress caused by medical costs, affects anywhere from 15% to 65% of patients,” Dr. Fumiko Chino of Memorial Sloan Kettering told Cure Today. We know that one in four Americans struggle with affording their prescription drugs due to high cost — and we won’t stop fighting to lower drug prices until reforms are extended to all patients. — (Medcity News, Medpage Today, Cure Today)
