A new Patients For Affordable Drugs analysis found that pharma hiked the prices of more than 600 drugs in the first week of January, with a median price hike of 4.99 percent — that’s over four times the rate of inflation. It’s no wonder Americans, overwhelmed by high prices, are unified in calling on lawmakers to take action and lower drug prices. — (Axios)
2.Let. Medicare. Negotiate. Now.
According to a government study, the Department of Veterans Affairs paid, on average, less than half as much as Medicare Part D for the same drugs in 2017. The difference is attributed in part to the VA’s ability to negotiate with drug companies for lower prices. It’s why Big Pharma so fiercely opposes Medicare negotiation — and why it’s time for Congress to get it done. — (U.S. Government Accountability Office)
3.“Anything But a Free Market”
A new bipartisan report from the Senate Finance Committee reveals that insulin prices have skyrocketed over the past decade due to abusive practices throughout the prescription drug pipeline. The massive price increases have led to huge benefits for drug makers and pharmacy benefit managers alike, while patients suffer. In Senator Chuck Grassley’s words, “there is clearly something broken” about the system. — (The Hill)
4.You’re Welcome, Pharma
In the sixth installment in P4AD’s series on taxpayer investment into COVID-19 vaccines and treatments, founder David Mitchell says pharma should be thanking U.S. taxpayers for funding and de-risking the early research that led to the successful vaccines. Now that pharma’s stock value is soaring, executives are cashing out, and companies stand to reap billions in sales, there’s only one thing left to say: “You’re welcome.” — (P4AD)
5.We’re Powered By Patients
In the newest episode of the Uninvisible Pod, P4AD Digital Director Samantha Reid shares how her Crohn’s disease diagnosis gives her an intensely personal reason to advocate for lower drug prices. Samantha has also testified in front of Congress on the need to rein in pharmaceutical price gouging and writes a blog about living with chronic illness. We are so grateful for her work every day! — (Uninvisible Pod)
Welcome to the Week in Review. We hope everyone is safe and hanging in there this week.
Our Origin Story
In a new episode of the Uninvisible Pod with host Lauren Freedman, P4AD founder David Mitchell discusses his life as a multiple myeloma patient — and how his diagnosis and the high prices of his prescription drugs drove him to fight for change to our broken drug pricing system. — (Uninvisible Pod)
2.New Year, Same Price Hikes
On Jan. 1, 70 pharmaceutical companies raised the prices of hundreds of prescription drugs, as Americans endured sickness and hardship due to the COVID-19 pandemic. This comes after drug companies hiked the prices of more than 1,000 drugs in 2020. Americans overwhelmingly agree that it is long past time to end Big Pharma’s stranglehold on America’s drug pricing system. The incoming Biden administration and Congress must listen to the people and act. — (Reuters)
3.Stand Up for Seniors
Seniors on Medicare pay for their prescription drugs based on list prices set by Big Pharma. With ever-increasing prices and no out-of-pocket cap in Medicare Part D, all too often those prices are simply too high. Many seniors are forced to patch together assistance programs and grants or face not being able to take their medications as prescribed. Republicans and Democrats in Congress agree the drug pricing system needs reform — patients need leaders to deliver real change. — (Kaiser Health News)
4.Blockbuster Pharma Ad Spends
America’s COVID-19 death toll exceeded 318,000 by the end of 2020, but tone-deaf Big Pharma rounded out last year by breaking its 2020 monthly ad spending record. In December alone, 10 top Big Pharma brands flooded the airwaves with $217 million in drug ads for expensive medications, including AbbVie’s Humira, Merck’s Keytruda, and Pfizer’s Xeljanz. Big Pharma wants us to think price hikes are necessary to fuel innovation; in reality, price hikes help fuel big marketing campaigns to increase sales. — (FiercePharma)
5.Keep Up the Momentum
Insulin copay cap laws across seven states came into effect this year, including $100 monthly caps in Washington and Illinois and a $50 monthly cap in Virginia. We applaud these states for taking a step to provide relief to people living with diabetes. — (The Seattle Times, WGN9, Prince William Times)
We are looking ahead with hope for 2021: For speedy access to a COVID-19 vaccine for every American — and for lower drug prices. Welcome to the Week In Review.
1. Disputing a Double Charge
Drug corporations have historically been unwilling to invest money in risky research on vaccines, so when the COVID-19 pandemic hit, governments around the world stepped up to finance the research and development of COVID-19 vaccines. Now Big Pharma is cashing in with vaccine prices that will yield huge profits. — (BBC)
2. We’re Saving Ourselves
Pharma is using the COVID-19 vaccine successes to try to rehabilitate its image — hoping the much-needed success will erase years of abuse of patients and consumers. But the vaccines are actually built on years of research by government and university scientists. Having received public support every step of the way, drug corporations shouldn’t be allowed to set prices and claim patent rights that put private profits ahead of public health. — (The New York Times)
3. Bipartisan Calls For Action
Two longtime members of Congress reasserted their commitments to fight for affordable prescription drugs. Rep. Doggett (D-TX) published an op-ed this week calling for Congress and the incoming administration to take action to ensure that access to the COVID-19 vaccines is not impeded by high prices and patent rights. Senator Grassley (R-IA) expressed his hope to work with President-elect Biden to advance bipartisan legislation to bring relief to millions of Americans suffering from high drug prices. We couldn’t agree more — if Democrats and Republicans can work together, 2021 could be a big year for drug pricing reform. — (USA Today, The Gazette)
4. What a Coincidence
The arthritis drug baricitinib was granted an emergency use authorization by the FDA as a part of a COVID-19 treatment regimen with Gilead’s remdesivir. But some doctors are concerned that the drug — at a price of about $1,500 per patient — is too expensive to reasonably prescribe. Earlier this year, Eli Lilly increased the price of its brand-name version of baricitinib, Olumiant, just five days before the Lancet published an articlesuggesting its use for COVID-19. Frankly, none of the companies are showing pricing restraint in light of the pandemic. They are just maximizing profits as usual. — (The New York Times)
5. More Patient Assistance Ploys
Pharmaceutical corporation Biogen will pay $22 million to settle a case with the U.S. Justice Department that charged the company with paying kickbacks disguised as charity to the Medicare program. Biogen is just the latest company to fall under scrutiny for the practice — Regeneron and Teva both faced cases for the same kind of violation earlier this year. Instead of violating federal law, drug companies could make their drugs accessible by… lowering their prices — (Reuters)
We hope drug prices are lowered… for evermore. Welcome to the Week In Review.
1. Business as Usual
For nearly a year now, Americans have been dealing with the unyielding spread of COVID-19, with many losing jobs, savings, and health insurance in the process. And yet, pharma has continued to raise prices on over 1,000 critical medications in this year alone, including over 200 price hikes since July. The new administration and Congress must lower drug prices and hold pharma accountable for their exploitative behavior. — (P4AD)
2.A Half Billion To Keep Power
Last year, the lobby group PhRMA spent over $500 million to maintain the rigged drug pricing system that benefits drug corporations while patients suffer. We don’t have $500 million to counter that spending, but we have something more powerful — the stories of thousands of Americans demanding change and relief from the high drug prices PhRMA members set. — (Center for Responsive Politics)
3. A Vacation Package… to the Pharmacy
Another byproduct of skyrocketing drug prices: Self-insured companies are finding it is cheaper to fly their employees who take expensive medications to Mexico to purchase their prescriptions, instead of paying for the medications via their health care plans. Do we need any more evidence that our rigged drug pricing system is failing Americans? — (NBC San Diego)
4. We’re Disadvantaging Ourselves
A new study from the Commonwealth Fund found that 50 percent of lower-income U.S. adults have been unable to access prescription drugs or medical care in the past year due to high costs — that’s compared to 24 percent or less in other wealthy countries. One of the differences between the U.S. and those countries? We don’t allow our government to negotiate with drug companies for lower prices. The evidence is clear — Medicare must be allowed to negotiate. — (Axios)
5. Flooding Our Airwaves
In November, pharmaceutical corporations beat their record for monthly spending on TV drug advertising, spending a whopping $204 million to promote blockbuster drugs. Big Pharma wants us to believe they cannot lower drug prices, but the truth is clear — drug pricing is all about their bottomline. — (FiercePharma)
Welcome to the Week In Review.
1. Fight for Equity
Civil rights leaders across the country are ramping up their efforts to fight for equity and affordability when it comes to drug pricing in the United States. The NAACP has called for state prescription drug affordability boards to establish fair drug prices as well as efforts to establish national review of drug prices. Drug pricing, and access to health care, is a civil rights issue — we must lower prices to achieve health equity. — (The Times Weekly)
2.Patents Enabling Profiteering
Truvada, an HIV-prevention drug and a poster child for pharmaceutical patent abuse, was developed largely using public funding over 15 years ago. But while generic competition in other countries has driven down the price to as little as $210 per month, Gilead cut a deal allowing only one company to produce a generic version of the drug in the United States. As a result, both the brand-name and generic versions cost American patients over $1,400 per month. The drug patent system is in need of serious reform to make it work for patients — not Big Pharma. — (NBC)
3. Show Us the Receipts
Members of the Interfaith Center on Corporate Responsibility, a coalition of over 300 investor organizations, filed shareholder proposals calling on six drug companies to price their COVID-19 drugs and vaccines affordably and transparently. Taxpayers have funneled billions of dollars to develop drugs and treatments. We’d like to see the receipts. — (Barron’s)
Patients For Affordable Drugs Now is giving thanks to our patient community. Together, we will lower drug prices.
Welcome to the Week In Review!
1. It’s Not Enough
Yesterday, the Trump administration released two drug pricing rules which take steps in the right direction but fall short of the comprehensive reforms we need to lower the prices of prescription drugs. One, which would pass much needed discounts negotiated by pharmacy benefit managers to patients, is also likely to increase premiums by $50 billion. The second, which would bring the prices of a limited number of Medicare Part B drugs in line with lower prices paid in other countries, is unlikely to go into effect due to legal challenges. Now the use of international reference pricing has been endorsed by the outgoing Republican and incoming Democratic administrations and enjoys bipartisan support in Congress — it’s time for elected officials to seize this momentum and bring down prices for good. — (Politico)
2. Medicare Negotiation Will Save Millions of Lives, Billions of Dollars
More than 1 million Medicare recipients could die in the next decade because they can’t afford their prescription drugs, a new study released by the West Health Policy Center has found. But, direct Medicare negotiation could save nearly 94,000 lives a year and save taxpayers $476 billion by 2030. This isn’t a hard choice — we need Medicare negotiation now. — (Council for Informed Drug Spending Analysis)
3. Keep It Going
On Tuesday, the House passed a bipartisan bill that would prevent drug companies from abusing the orphan drug designation to price gouge patients for their medications. Now, patients are counting on the Senate to finish the job and send the bill to the president’s desk. — (FiercePharma)
4. We’ve Done the Work
The two promising COVID-19 vaccine candidates from Pfizer and Moderna are grounded in federally funded research conducted by scientists at universities, the National Institutes of Health, and the Defense Department. And, the federal government has committed another $454 million to Johnson & Johnson’s potential COVID-19 vaccine. From the beginning, Americans have been investing in groundbreaking technologies that will hopefully save lives — and now, pharma is taking credit and pocketing billions of dollars for the work we’ve done. — (Kaiser Health News)
5. Hey 117th — Lower drug prices
The general election is over, thank goodness. Now, 80 percent of voters want to see bipartisan congressional action on lowering drug prices, a new poll found. It’s time for lawmakers to deliver on their campaign promises and hold Big Pharma accountable for skyrocketing prices. — (Morning Consult)
Congrats! If you’re reading this, you made it through Friday the 13th. Welcome to the Week in Review!
1. Keep Your Word
Democratic and Republican candidates across the country were elected after promising to lower drug prices, and now, a new ad from Patients For Affordable Drugs Now calls on them to uphold their commitments when they take office. Americans can’t wait any longer for drug pricing reform. It’s time for Congress and President-elect Biden to get the job done. — (FiercePharma)
2. Getting Rich Quick
Pharma executives can’t resist cashing in on a crisis. After Pfizer’s stock value surged upon news of the efficacy of its potential COVID-19 vaccine, CEO Albert Bourla sold $5.6 million worth of stock. Taxpayers around the world have funded numerous vaccine candidates in an effort to beat COVID-19, and drug company executives are using the opportunity to profiteer on a pandemic. — (NPR)
3. We’re Kept in the Dark
In response to public pressure for transparency into government spending, drug makers with Operation Warp Speed contracts for COVID-19 vaccines are releasing the terms of their agreements. Some contracts are missing standard taxpayer protections on drug pricing. The public deserves more transparency from the government for deals involving billions of taxpayer dollars. It’s our right to know how our investments are being used. — (NPR)
Three. More. Days. Welcome to the Week In Review.
1.Ten Years A Cancer Patient
On the 10th anniversary of his multiple myeloma diagnosis, David Mitchell, the founder of Patients For Affordable Drugs, reflects on his journey and the power of the patient voice in calling for lower drug prices. “Cancer broke my back, but it stiffened my spine. And every day I am inspired by my fellow patients in this fight. They are the key to change. They are the reason we will win.” — (Morning Consult)
2. Send Him Packing
As candidates across the country commit to lowering drug prices, one senator stands apart from the rest in his refusal to do so: Senator Thom Tillis from North Carolina. Tillis has repeatedly backed pharmaceutical companies instead of standing up for patients. — (STAT)
3.Risky Investments
The federal government is paying Eli Lilly $375 million for 300,000 doses of its potential COVID-19 treatment, with the option of securing 650,000 more doses for an additional $812.5 million. At $1,250 per dose, it’s a hefty price to pay for a drug that U.S. taxpayers helped to develop. — (Reuters)
4. Paying in Advance
Medicare and Medicaid beneficiaries will receive FDA-approved COVID-19 vaccines without paying additional out-of-pocket fees, according to a new policy announced by the Trump administration Wednesday. This is welcome news, but let’s not forget that taxpayers have already paid billions of dollars for vaccine development. — (The Hill)
5. The Very Definition of Pandemic Profiteering
Pharma executives at a dozen companies making COVID-19 vaccines and treatments have cashed in $1.3 billion worth of stock since March. What’s worse, companies like Moderna have $2.5 billion in taxpayer cash committed to test, produce, and eventually sell 100 million doses of its vaccine candidate right back to the government that fully funded it. Taxpayers are taking on the risk — while drug company insiders get rich. — (The Boston Globe)
