After patients scored a huge goal against Big Pharma with passage of drug price reforms in the Inflation Reduction Act, things are looking Messi within the industry ⚽??
Welcome To The Week In Review.
Members Of Congress Call Out Big Pharma For Covid Vaccine Price Gouging
Earlier this week, Sen. Elizabeth Warren and current Rep. and Senator-elect Peter Welch sent a letter to Pfizer CEO Albert Bourla condemning his plans to increase the price of its COVID vaccine by nearly four times. The U.S. government currently pays $30 per dose of the vaccine – this astronomical price increase will bring that number to up to $130 per dose. Sen. Warren and Rep. Welch pressed Bourla to respond by Jan. 9 to nine questions the members posed about the price hikes and the impact on Pfizer’s bottom line and patients alike. “Pfizer has made past assurances that market pricing for a COVID-19 vaccine would be ‘unethical’ and would amount to ‘taking advantage of a situation,'” Sen. Warren and Rep. Welch wrote. “But that is exactly what the company is doing, and the impact of this price increase will fall hardest on the uninsured and underinsured.” Taxpayer dollars funded research leading to the development of mRNA COVID vaccines, and now taxpayers will be forced to pay again through out-of-pocket costs and higher premiums. Meanwhile, Pfizer could walk away with an additional $2.5 – $3 billion in revenue if the company follows through with these vaccine price hikes. Thank you Senator Warren and Senator-elect Welch for calling out this pandemic profiteering and standing with Americans. — (Office of Senator Elizabeth Warren, The Hill)
2. Case Study: Death Sentence For Hepatitis C Patients In Prisons
STAT’s Nicholas Florko released an 8-part investigation that looks closely at state prisons’ failure to test or treat incarcerated people for hepatitis C (HCV). Florko explains that while once-daily HCV pills are highly effective (95 percent of those who take the treatment are in fact cured), the treatments are very expensive and thus out of reach for many. Given that the drugs are so unaffordable, prisons are left to choose between paying tens of thousands of dollars to cover the HCV treatment for incarcerated people in their care or deny patients access and instead only cover their ongoing medical needs due to the condition. The result of this inhumane choice? “1,013 people died of hepatitis C-related complications in states’ custody in the six years after the first cure, a Gilead antiviral drug called Sovaldi, hit the market in late 2013.” Dubbed the “1,000 dollar pill,” Gilead has raked in billions from the hepatitis C treatments which originated in an Emory University lab with taxpayer funds. The corporation shamelessly continues to defend its prices as “fair and responsible.” This investigation – which included 100 interviews, 225 public record requests, and thousands of pages of legal filings – spotlights the inhumanity of our drug pricing system and how it disproportionately impacts society’s most vulnerable. Hundreds of lives lost because patients in prison didn’t have access to lifesaving medication? Unacceptable. — (STAT)
3. Spotlight On AbbVie
AbbVie made headlines this week – one for its repeated abuse of the patent system to keep Humira prices high and another for a controversial move to leave major industry trade groups in D.C. As a reminder, the price of AbbVie’s blockbuster drug Humira has swelled over the years as the company has extended the drug’s monopoly status in the U.S. by building a thicket of patents to prevent cheaper biosimilars from coming to market — a truly unethical scheme. After two decades of Humira monopoly, biosimilars for Humira are slated to come to market next year, an outcome that should increase competition and drive down price. But in 2016, ahead of the upcoming competition, AbbVie whipped up a new formulation of Humira (a slight tweak from the original), and in 2018, completed a product hop, moving patients from the original formulation to a new one. At that point, many of the biosimilars for the original formulation had already been approved by the FDA. When those biosimilars come to market next year, they will not apply to the new formulation of Humira, allowing AbbVie to maintain a portion of the market share. AbbVie’s shenanigans are a prime example of why we so desperately need to reform our patent system and speed generics and biosimilars to market. AbbVie opposes federal legislative changes that impede on its ability to dominate the market and price its drugs as high as it wants. Perhaps that plays a part in the company’s recent decision to leave several industry trade groups, like PhRMA and Bio, which are responsible for lobbying for the interests of brand-name drug companies. We can’t help but notice that the decision follows PhRMA and BIO’s failure to stop the passage of the historic drug price reforms in the Inflation Reduction Act that, for the first time, allow Medicare to negotiate for lower drug prices and curb drug company price gouging. We see you, AbbVie. ? — (Quartz, Politico)
One more thing: A reminder that the next two drug price provisions of the Inflation Reduction Act will go into effect next month. Starting January 1, Medicare beneficiaries will get their vaccines for free and patients on Medicare Part D will have their insulin copays capped at $35 monthly. We couldn’t be more excited for all the Inflation Reduction Act drug price reforms to be implemented. Patients like Brenda and Meg need relief from high drug prices.
Have a great weekend, everyone!
Icon of the year? Tie between the new drug price reforms in the Inflation Reduction Act and Michelle Yeoh. That’s Wicked cool.
Welcome To The Week In Review.
Time To Crack Down On Sham Citizen Petitions
While Congress is finalizing an end-of-year budget package, P4ADNow and seven groups sent a letter urging the Senate Committee on Health, Education, Labor and Pensions and the U.S. House Committee on Energy and Commerce to boost generic competition and lower prescription drug prices by including the bipartisan legislation Ensuring Timely Access to Generics Act (S. 562) in the package. This bill seeks to reform the Food And Drug Administration’s (FDA) citizen petition process — a tactic wielded by Big Pharma to delay generic approval and market entry. Currently, brand name drug manufacturers misuse the citizen petition process and submit sham petitions to prevent affordable generics from joining the market. “Passing the bipartisan citizen petition bill would be a win-win for Congress – it boosts competition by decreasing barriers for cheaper generic drugs to come to market, driving down prices for patients and saving the government hundreds of millions of dollars,” P4ADNow’s David Mitchell said. “We are grateful for Sens. Shaheen, Cassidy, Bennet, Rubio, and Baldwin’s leadership in advocating for this important reform to ensure the system works as intended for patients and consumers.” P4AD was joined on the letter by Alliance of Community Health Plans (ACHP), American College of Physicians, American Society of Health-System Pharmacists (ASHP), Blue Cross Blue Shield Association, The Campaign for Sustainable Rx Pricing, Friends of Cancer Research, and Protect Our Care. — (Patients For Affordable Drugs Now, Common Dreams)
2. Questions Answered By P4AD’s Merith Basey
P4AD’s patient community embraced our new executive director, Merith Basey, on Thursday with a virtual Q&A forum moderated by New Jersey patient advocate Lisa Ann Wetzel-Trainor. Over the past few weeks, patient advocates in 34 states submitted over 150 questions to Merith about her experience in the drug price advocacy world, the implementation of the Inflation Reduction Act, and how P4AD plans to fight for lower drug prices, for all patients, moving forward. “This is a really big deal, it wouldn’t have happened without patients. Everyone in this community should be proud,” Merith said of the passing of the Inflation Reduction Act. “This is a crack in the wall of pharmaceutical power – the prescription drug price reforms are truly, truly historic and they represent a monumental victory.” Lisa and Merith discussed the drug price reforms in the Inflation Reduction Act in detail – acknowledging this momentous win, explaining what’s in the new law, when it will be implemented, and the impact it will have on patients. Merith detailed P4AD’s goals for the future, which include implementation of the drug price reforms in the Inflation Reduction Act, patent reform, ensuring PBMs actually benefit patients, fair launch prices for new drugs, and expanding and diversifying our patient community. — (Patients For Affordable Drugs)
3. What To Expect In 2023
2023 is around the corner and patients on Medicare are expecting to soon feel the impact of the drug price reforms in the Inflation Reduction Act. Starting January 1, Medicare beneficiaries who pay for insulin through Part D will have their insulin copays capped to $35 a month. Additionally, Medicare beneficiaries will get their vaccines for free starting in the new year – patients will really feel this relief on expensive shots such as the shingles vaccine. Right now, “Medicare-enrolled recipients may have to pay up to $324 [for a shingles vaccine]— a huge burden for those of us on a fixed income who don’t have a lot to spare,” wrote Sharon Mayer, a senior in Iowa. In 2023, the government will also begin penalizing drug companies for increasing prices above the rate of inflation. For Medicare beneficiaries, that will mean more stability for coinsurances throughout the year. “The Inflation Reduction Act takes significant concrete steps to lower drug costs in the near term – as soon as January 1 – and improves health care affordability in the long-run,” Medicare Director Meena Seshamani said in an interview with Forbes. “It expands Medicare benefits, stabilizes prescription drug premiums and improves the sustainability of the Medicare program.” — (emissourian.com, KAGS, The Gazette, Tennessee Lookout, Forbes)
4. Perpetual Pandemic Price Gouging
Soon people in the U.S. will face a new pandemic reality: out-of-pocket costs and higher insurance premiums for COVID-19 vaccines and treatments. Paxlovid, which has been taken by almost 6 million people in the United States to prevent severe disease from COVID infections, has been sold at a discounted, bulk price of $530 per treatment to the federal government. When it hits the private market, it is expected to increase in price; which public health experts believe will lead to a substantial decrease in use of the life-saving medication. And because people of color with a COVID diagnosis in the U.S. are already much less likely to receive Paxlovid and other treatments than white patients, an increase in price is likely to further grow this disparity. Unaffordable pricing and limited supply has already restricted the use of Paxlovid in low and middle-income regions of the world where there is great need for treatment. The taxpayer-funded COVID bivalent vaccines, meanwhile, are expected to increase in price by 3 to 4 times the government rate on the private market for a price of around $100 each dose. “These costs will be borne by both public and private vaccine payers,” explains Kaiser Family Foundation. For Big Pharma, the COVID treatments and vaccines are “a multibillion-dollars franchise,” but for patients, it’s a matter of life or death. It’s pandemic profiteering as usual. — (Kaiser Health News, Kaiser Family Foundation, CNN)
Cell and gene therapies are the most recent frontier of modern medicine. These remarkable therapies will transform patient lives and could result in long-sought cures for some of the world’s most challenging conditions. But with price tags like Hemgenix’s record-breaking $3.5 million, patients and experts share concerns about how patients and our health system will be able to afford these miraculous new treatments. Patient Jerry McMillian Jr. lives with severe hemophilia and worries about whether Hemgenix will be covered by public and private health insurance plans. “There’s going to be a lot of poor people [without coverage] who can’t afford this,” McMillian said. The issue of price could be even more challenging when there’s a treatment for a larger population of patients. Sickle cell disease impacts 100,000 people in the United States with a staggering 40 percent of those patients qualifying for Medicaid. A promising treatment may come to the market as soon as next year. But if it enters at even a third of the price of Hemgenix, Medicaid will be forced to grapple with whether it can afford to cover the treatment at all. The question came up at the Milken Institute’s Future of Health Summit this week where experts discussed whether “providing [patients] what could be a functional cure for the disease [is] worth the steep price.” Patients’ health and well-being should not be an economic calculation — we can’t let drug companies dictate prices for these public goods. — (WIRED, Business Insider, Politico)
Have a great weekend, everyone!
Welcome To The Week In Review.
Inflation Reduction Act: A Victory For Patients
In just one month, the next two drug price provisions of the Inflation Reduction Act will go into effect — capping Medicare Part D insulin copays at $35 a month and making vaccines, for the first time, free for all Medicare beneficiaries. Patients and elected officials are continuing to tout the historic drug price reforms’ significance. Arizona patient Carol Brown is relieved that Congress finally listened to patients’ needs and passed legislation that would help her save thousands of dollars annually on prescription drugs that she needs as a lifelong asthma sufferer. “As I get older, I become more vulnerable to other medical conditions. I am relieved that no matter what happens, I can plan my budget to afford the $2,000 co-pay cap,” she shared on the Part D out-of-pocket cap that will go into effect in 2025. This week, Rep. Paul Tonko joined an AARP tele-town hall in New York and shared that passing the Inflation Reduction Act was one of the biggest milestones in his career. Next year, over ten thousand Medicare beneficiaries who need insulin in Rep. Tonko’s district will start to feel the relief from the new law’s $35-per-month insulin copay caps. Truly a victory for patients. — (Arizona Capitol Times, WAMC Northeast Public Radio)
2. Big Pharma Watchdog Alerts
Big Pharma is continuing to put profits over patients – here’s a roundup of the industry’s latest. Drug company Provention Bio set the price of a new treatment that delays the onset of type 1 diabetes for an average of 2 years at nearly $200,000 for a 14-day course. This new innovation could really help many Americans, but at an almost $200,000 price tag is price gouging plain and simple, putting it out of reach for so many patients. Similarly, a new breakthrough treatment, Hemgenix, for hemophilia is now the most expensive drug in the world with a price of $3.5 million set by its manufacturer CSL Behring. Gene therapy Hemgenix represents life-changing innovation for patients who can afford it, but that new innovation is worthless for those who can’t. Lastly, Merck appears to be eying a product hop for its blockbuster cancer drug Keytruda. The company is developing an injectable version of the medication, which Merck claims would warrant a new patent. The move could extend Merck’s monopoly on the drug by more than a decade, keeping prices high and limiting access for patients. Just another case of Big Pharma gaming the system to extend its pricing power. — (New York Times, CNN, Reuters)
3. Spotlight on Congress: Drug Prices Matter
This week, Rep. Annie Kuster defeated pharma-friendly Rep. Scott Peters in the bid to lead the New Democrat Coalition. A quick recap of Rep. Peters’ drug pricing history: After receiving hundreds of thousands of dollars from the pharmaceutical industry, Rep. Peters and three colleagues attempted to first block and then successfully weakened the drug price provisions in the Inflation Reduction Act. “Our goal was to get the strongest possible bill out of the House and in fact, it was Scott Peters who led the effort to water it down,” said P4AD’s David Mitchell. “Scott Peters has been and continues to be a handmaiden of the industry.” Rep. Peters is the only one of the four members who will serve in the 118th Congress – Rep. Kurt Schrader lost his primary to a Democrat who called out his pharma-friendly policies, and Reps. Kathleen Rice and Stephanie Murphy did not seek re-election. Rep. Peters’ defeat this week “means that one of the pharmaceutical industry’s biggest allies in Congress will not be leading a key bloc of House Democrats,” HuffPost said. Meanwhile, Rep. Kuster and many of her colleagues in the New Democrat Coalition fought for inclusion of strong drug price provisions. This year’s historic drug price law in the Inflation Reduction Act is a huge win for patients – no thanks to Rep. Peters – and marks a shift in power in Big Pharma lobbying. “PhRMA, once a titanic lobbying powerhouse, lost its edge,” STAT reported. The message is clear: drug price policy matters. — (HuffPost, HuffPost, STAT)
BONUS: This #WorldAIDSDay, we recognized that people living with HIV/AIDS face exorbitant prices for essential drugs because of price gouging from Big Pharma. Gilead Sciences, which has a monopoly on many essential HIV and AIDS medications, price gouges patients taking its HIV antiviral treatment Biktarvy, charging more than $3,500 a month for a drug that is keeping people alive. We must continue to fight for equitable access to life-saving drugs.
Have a great weekend, everyone!
Happy Thanksgiving from P4AD! We’re immensely grateful for the historic progress made to lower drug prices this year.
Welcome To The Week In Review.
Election Results: Votes For Lower Drug Prices
Democrats did much better than expected in this year’s midterm election results – and a key part of their campaign for Congress was the new drug price law in the Inflation Reduction Act. “Throughout the campaign, Democrats showed how they’re delivering… lower prescription drug prices,” Protect Our Care summarized in a press release this week. Vincent DeMarco, President of the Maryland Citizens’ Health Initiative, agreed, explaining, “The lesson here is that health care…measures that are good policy are also good politics.” This checks out with voters. In Florida, 95 percent of Black voters supported allowing Medicare to negotiate lower prescription drug prices, and 93 percent of Latino voters supported lowering prescription drug prices. The results are clear: Americans want lower prices for their medication. — (Protect Our Care, The Baltimore Sun, Tallahassee Democrat)
2. #WorldDiabetesDay
On Monday, advocates and patients spread the word about World Diabetes Day – a global campaign to increase awareness about diabetes. Here at P4AD, we reflected on the monumental new drug price law passed this year that will cap insulin copays at $35 a month for Medicare patients starting in 2023, helping millions of Americans afford their insulin. But as long as the drug corporation cartel controls the world’s insulin market, there is more work to be done. We will continue to stand alongside people with diabetes and fight for lower insulin prices for all people. Insulin pricing is life or death.— (P4AD Twitter)
3. STAT Summit 2022
his week, STAT gathered innovators and thought leaders to talk about the future of health and medicine at their 2022 Summit. We heard mixed messages from Big Pharma leaders. PhRMA CEO Steve Ubl called out lawmakers for not doing enough to lower out-of-pocket costs for patients. This is a classic pharma trick where the industry creates a false dichotomy by claiming patients only care about lower out-of-pocket costs. P4AD’s David Mitchell set the record straight at a session the following day, pointing out that we must lower prices in order to lower out-of-pocket costs: “Lowering out-of-pocket without lowering prices is merely a cost-shift and that’s why it is so critical that we continue to work to try and arrive at prices that are appropriate.” Departing Merck CEO Ken Frazier, meanwhile, got it right. Frazier spoke bluntly with STAT about the importance of increased balance in the drug pricing system: “I think because of the importance of medicine to people, we have to think about it more from the perspective of optimizing access and optimizing profitability which, is more of a balance.” We couldn’t agree more! We must reform our system to ensure patients have access to the medications they need. — (STAT, Pink Sheet)
STAT’S RACHEL COHRS, DAVID MITCHELL, AND GUNNAR ESIASON
Have a great weekend, everyone!
Happy Veterans Day! Hope everyone is resting up post-election.
Welcome To The Week In Review.
Drug Pricing + The Election
While the final outcome of the midterm elections continues to hang in the balance, one thing is certain: A key part of the Democrats’ campaign for Congress was the new drug price law. The New York Times reported: “Democrats touted [their policies including] capping the cost of some prescription drug prices and insulin for Medicare recipients.” NBC wrote: “Both sides of the aisle tackled inflation in their ads, with Democrats primarily touting their efforts to lower prescription drug prices.” As we know, the drug price reforms from the Inflation Reduction Act are very popular with voters. Despite calls from some Republican senators to repeal the provisions, the law is likely here to stay, regardless of the outcome of the election. That’s good news for patients and taxpayers alike. — (The New York Times, NBC, Forbes, The Wall Street Journal)
2. We Need Patent Reform
Drug companies abuse the U.S. patent system to maintain monopolies on drugs, keep raising prices, and maximize profits. This week, Insider took a look at one of the worst offenders: Humira, a drug that treats several debilitating diseases, including severe arthritis, Crohn’s disease, and ulcerative colitis. Its manufacturer, AbbVie, has been gaming the patent system for years – the company filed for over 300 patents and received over 160 patents on Humira, preventing any generics from coming to market in the United States. AbbVie has raised the price of Humira – which has remained basically the same drug – 500% since it came to market 20 years ago. The result? Americans pay up to $3,000 per Humira pen. Comparatively, generic forms have been on the market for years in Europe, where patients pay 90 percent less for the same drug. Priti Krishtel, one of this year’s MacArthur Foundation’s “genius” award winners, spoke to Insider about the unjust U.S. patent system, saying, “I just don’t think that people should have to pay their life savings for life-saving medicines.” She added, “We’re going to have to design a health system that works for Americans, and that is designed by Americans.” We’re with you, Priti! It’s time to reform our patent system to bring an end to drug company abuses and lower prices for patients. — (Insider)
3. Lower Drug Prices Now
Americans continue to struggle to afford their prescription drugs. According to a new AARP report, nearly 1 in 5 adults between the ages of 40 to 64 said they’ve decided not to take medication as prescribed in the past 12 months because of cost. Annals of Internal Medicine’s report from last month estimated 1.3 million U.S. adults with diabetes rationed their insulin in the last year. The Washington Post uplifted the findings this week, highlighting that rationing was more common among lower and middle-income participants as well as Black participants. “The price of the four most popular types of insulin has tripled in the past decade,” the Post reported. A drug corporation cartel controls the world’s insulin market. It must change. We need lower drug prices now. — (AARP, The Washington Post)
Have a great weekend, everyone!
This No-vember we’re saying no to high drug prices.
Welcome To The Week In Review.
Sheldon and President Biden
On Tuesday, patient advocate Sheldon Armus, a Medicare beneficiary from Boynton Beach, FL, shared his story about the high price of his heart medications and introduced President Biden, thanking him for passing the Inflation Reduction Act which will lower drug prices and improve the health of millions of patients. “Knowing that we have leaders like President Biden fighting to bring down our drug prices — not keep money in the pockets of the pharmaceutical companies — means the world to seniors like my wife and myself, who have been waiting on this relief for years,” Sheldon shared before introducing the president. President Biden delivered remarks about lowering prescription drug costs through the Inflation Reduction Act, and called out Florida Senator Rick Scott, who has been pandering Big Pharma lies about the drug price reforms in the new law. In addition to introducing the president, Sheldon also penned a letter-to-the-editor expressing his frustration that his senator Marco Rubio cosponsored a bill that aims to reverse the drug price reforms passed in the Inflation Reduction Act. “Finally, Congress passed a law to allow Medicare to negotiate drug prices, and Senator Rubio wants to reverse it?! Makes no sense.” We are grateful to Sheldon for sharing his story with President Biden and for telling his Florida senators that patients like him are counting on the new drug price law to deliver relief. — (P4ADNow, Politifact, Sun Sentinel)
2. Patients Say No To GOP Bill
There was significant pushback this week to four Republican senators’ so-called Protect Drug Innovation Act, which aims to reverse the life-changing drug price reforms recently passed into law in the Inflation Reduction Act. A flurry of letters and op-eds fromaroundthecountrycalled out Senators Lankford (OK), Lee (UT), Lummis (WY), and Rubio (FL)’s recent effort to force Americans to pay more for their prescriptions. “It’s so disappointing to see Lee lead the effort to repeal these reforms before they are even fully implemented,” Marion Lennberg, a retiree in Salt Lake City, penned in an op-ed. “Utah seniors and their families are depending on all our elected leaders to put our needs ahead of political partisanship and corporate greed.” Meg Jackson-Drage, from Magna, UT who lives with fibromyalgia and neuropathic pain, both of which require costly medication, wrote, “Sen. Lee spews Big Pharma lies while he tries to make sure drug companies can continue to price gouge me for my prescriptions. I don’t understand how he can put drug company profits ahead of the needs of his constituents by pushing for the repeal of reforms that lower drug prices.” — (Door County Pulse, Altoona Mirror, Richmond Times-Dispatch, Montana Standard, Salt Lake Tribune, Salt Lake Tribune)
3. No Good Reason For High Rx Prices
A new study this week from JAMA found that cancer drugs aren’t priced based on effectiveness for patients. The study indicates “this suggests that cancer drugs are priced based predominantly on what the market will bear,” and thus what will bring in the most cash for Big Pharma. And the industry seems to have quite a large spending budget lately. Another new study from JAMA found a 70 percent increase in health industries’ spending on federal lobbying from 2000 to 2020. “PhRMA, the big drug industry lobby, has wielded the most power within the health care sector since 2017,” Axios reported. “It broke records on spending during the political battle over drug prices.” Clearly Big Pharma has plenty of money to spend. Then why do they make patients pay so much for drugs? Because all they care about is their bottom line. — (Medscape, Axios)
4. Patients Are Suffering From High Drug Prices
Americans across the country are unjustly affected by outrageously high drug prices. “Since COVID, we’ve seen the price of medicine skyrocket to pad the pocketbooks of CEOs as my constituents have taken food out of their shopping carts,” Rep. Teresa Leger Fernández said in an op-ed this week. Patients are rationing or forgoing their medication because they can’t afford it. For Antavia Worsham, the outcome was deadly — she tragically died at age 22 because she couldn’t afford the high price of her insulin. Insulin pricing disproportionately affects our minority communities. Latinos make up under 20 percent of the U.S. population, but the community is 70 percent more likely to be diagnosed with diabetes than non-Hispanic white adults, making them more likely to need insulin to live. It’s no wonder Hispanic voters have health care on their minds as they head to the polls. It is imperative that we continue to rein in Big Pharma’s greed and put human lives before corporate profits. — (Albuquerque Journal, 11 Alive, Tampa Bay Times, The Hill)
5. Big Pharma’s Latest Scapegoat, Same BS
Big Pharma is using the Inflation Reduction Act as its latest scapegoat to justify maximizing profits. This week, drug companies Alnylam Pharmaceuticals and Eli Lilly are using the new drug price law as their latest reason to stop investing in new drugs that won’t reap companies maximum profits. Drug company Alnylam claimed it wouldn’t further explore expanding the number of diseases its drug vutrisiran treats because it would make the drug eligible for Medicare negotiation. But vultrisiran and drugs that very treat rare diseases are unlikely to ever be eligible for negotiation, as they are unlikely to become one of the costliest drugs for Medicare. Arguments from pharma companies like Eli Lilly that the Inflation Reduction Act makes investment in small molecule drugs less profitable are simply a case of Big Pharma fear-mongering yet again. The Inflation Reduction Act actually improves the environment for small molecule drugs compared to biologics. The truth is, Big Pharma has been deciding which drugs to produce and which ones not to produce based on the industry’s profits for years – its latest ploy to throw the Inflation Reduction Act under the bus has nothing to do with saving patients’ lives and everything to do with maximizing profits. Same old pharma. — (Endpoints, Endpoints, STAT)
?️BONUS: It’s nearly election day! And drug prices are still top of mind as Americans cast their ballots. Patient advocate Jackie Trapp, who lives with a rare blood cancer, told CBS this week that she’s planning on voting for Democrats, and that “she’s looking forward to seeing those [drug] costs drop in coming years as drug-pricing provisions of the Inflation Reduction Act kick in.”
Have a great weekend, everyone!
Thanks to the Inflation Reduction Act, millions of patients won’t get Tricked by Big Pharma, only Treated to lower drug prices ?
Welcome To The Week In Review (a day early, as P4AD is closed today).
Popular Provisions
A new poll from NBC News found that lowering health care costs and prescription drug prices is the most popular position that midterm candidates have taken during the general election. 84 percent of voters said they’re most likely to support a candidate with this position. It’s no wonder drug price reforms are popular – the provisions in the Inflation Reduction Act will be life-changing for Americans. “The drug pricing reforms that Congress passed are historic,” Senator Luján wrote in an op-ed this week. “Now, the 23,060 New Mexicans on Medicare will have their insulin costs capped at $35 per month.” The annual cap on Part D out-of-pocket costs along with requiring Medicare to negotiate “could save billions annually at the national level.” With World Psoriasis Day tomorrow, a patient with psoriasis celebrated how the provisions that “drive down drug prices are going to make a world of a difference for people like me, but also for countless working families, seniors, people with disabilities and communities of color.” — (NBC News, Las Cruces Sun News, Medscape, Minnesota Reformer)
2. Patient Feature: Therese Humphrey Ball
This week’s Tradeoffs Podcast features patient advocate Therese Humphrey Ball in an episode about how the Inflation Reduction Act’s overhaul of the Medicare prescription drug program, Part D, will deliver relief to seniors like Therese who previously have been on the hook for thousands of dollars in drug costs. Therese shares her moving story of living with multiple sclerosis and how she had to ration and eventually go off one of her medications, Copaxone, which cost her $6,000 a month. Going without the medication caused Therese’s multiple sclerosis to progress until one morning, she was unable to walk. “You can’t imagine how mad I was,” Therese shared, “…to think that in the United States of America, people have to do this. It is not right.” Thankfully, Therese has since gained back mobility and has been a strong force of advocacy over the years. Her voice is one of many that helped pass the historic reforms in the Inflation Reduction Act. “I can’t control my disease or change that I have MS, but telling you my story and advocating for lower prices is something I can control.” — (Tradeoffs Podcast)
3. Patients Footing The Bills
Prostate cancer drug Lupron Depot is a testosterone-suppressing drug invented nearly 50 years ago. After coming to market in 1973, Lupron’s manufacturers – Abbott and Takeda – abused the U.S. patent system to maintain a monopoly on the drug, allowing the companies to keep raising its price. Lupron is now priced at $5,866, and sold by AbbVie, for a three-month shot in the United States, compared to $260 in the United Kingdom. Because the shot must be administered at a hospital or doctor’s office, U.S. hospitals and clinics are able to markup the drug further to enhance their revenues. The high price of the drug incentivizes these upcharges and motivates providers to prescribe the drug. “Doctors and hospitals can earn tens of thousands of dollars each visit by marking up its price and administration fees.” For 60-year-old prostate cancer patient Paul Hinds, his bill for two shots of Lupron injections totalled $73,812 thanks to the high list price, lab work, and physician charges. Our drug price system allows every part of the drug pipeline to profit off of medications, leaving patients to foot the bill. We must reduce prices, stop patent abuses, and lower markups to deliver relief to patients. — (KHN/NPR)
A new study found that in 2021, almost 1 in 5 U.S adults with diabetes skipped, delayed, or used less of their insulin due to the high price. That is 1.3 million people. As we know, the Inflation Reduction Act will lower insulin costs for nearly 3 million adults on Medicare, which will be life changing. But there is more work to be done so that all people with diabetes can afford their insulin. And the new study shows that Americans with private health insurance and those who are uninsured have the highest rates of insulin rationing. Dr. Adam Gaffney, the study’s lead author, shared with NBC that the problem is that “We have allowed pharmaceutical companies to set the agenda, and that is coming at the cost to our patients.” Big Pharma’s greed is responsible for putting the lives of Americans in completely avoidable danger — we won’t stop fighting to put patients’ health ahead of drug industry profits. — (Annals of Internal Medicine, NBC News)
2. Voters Care About Drug Prices
The high price of prescription drugs is on the minds of voters, says a new poll released by Gallup and West Health this week. Nearly nine out of 10 Americans report that a candidate’s plan to reduce the cost of prescription drugs is very or somewhat important in determining their vote. This is especially true with seniors, as well as Black and Hispanic voters. And with the midterms around the corner, Democrats are leaning in on prescription drug reforms on the campaign trail, touting the newly passed drug price provisions in the Inflation Reduction Act that will lower drug prices for patients. Reps. Wild, Pappas, and Horsford penned an op-ed in Newsweek explaining that “the provisions related to drug prices and health care are truly historic.” The members highlighted that the drug price provisions are incredibly popular, and that members of Congress trying to repeal the reforms are doing Big Pharma’s bidding. Rep. Katie Porter shared similar sentiments at a recent event: “Allowing Medicare to negotiate drug prices is good for patients, good for families, and good for taxpayers. It is good for us as a country — for Americans who have long been suffering from skyrocketing drug prices, the Inflation Reduction Act delivers solutions.” — (Gallup, The Hill, Newsweek, P4ADNow)
3. Pandemic Profiteering
This week, Pfizer shared that it plans to charge $110 to $130 for its COVID-19 shot — which is based on taxpayer-funded research — nearly quadrupling the price. The reason for this increase? To meet revenue goals, which come at the price of patients. But clearly Pfizer isn’t hurting for money – in the second quarter of 2022, the company had a 78 percent increase in overall profit compared to the same period in 2021 and is forecasting $32 billion in 2022 sales from its COVID vaccines. “This is daylight robbery,” Julia Kosgei, policy adviser to the People’s Vaccine Alliance, told Common Dreams. “This latest obscene price hike is truly a mask-off moment for one of the great profiteers of this pandemic.” — (Reuters, Endpoints News, Common Dreams)
BONUS WATCH: Check out the new documentary White Coat Rebels, which dives into Big Pharma’spower, the medical profession, and the activists who are fighting back against the status quo. In particular, the film features the powerful stories of two fierce medical students from Universities Allied for Essential Medicines (UAEM), where our very own Merith Basey was previously executive director before joining P4AD!
