Ahead of Super Bowl Sunday, here’s a reminder that Humira generates more in revenue than these two teams AND ALL THE OTHERS COMBINED.
Welcome to the Week in Review.
Big Pharma’s Big Lie
A new report from P4AD debunks one of pharma’s most commonly cited claims that lowering drug prices will destroy its ability to develop innovative new medications for patients. Fact: Reducing pharmaceutical profits within reasonable levels would not harm innovation, and the most innovative new drugs — those that represent clinical advances — are often funded in part by taxpayers. Patients care about innovation more than anyone else, and we won’t let drug corporations hold us hostage with another one of their lies. — (P4AD)
2.Open Your Books
Pfizer and Johnson & Johnson, both companies with a COVID-19 vaccine, are fighting to block shareholder resolutions seeking transparency into pharma’s pricing practices. Despite the fact that public money helped finance COVID-19 vaccines, when it comes to price, pharma wants to keep hiding in the shadows. — (Newsweek)
3.States Get The Ball Rolling
There is growing evidence that in the absence of federal action, states will act. This week, state legislatures and governors around the country jump-started efforts to lower drug prices. A Montana Senate committee heard testimony for a bill that would increase transparency into drug prices, while lawmakers in New Jersey and New York are aiming to pass legislation to establish or strengthen insulin copay caps.Massachusetts Gov. Charlie Baker proposed penalizing drug makers for price gouging, and Wisconsin Gov. Tony Evers revealed a slate of drug pricing proposals, including the establishment of a prescription pricing review board. We stand ready to support these efforts! — (Montana Free Press, WNYC, CommonWealth Magazine, AP)
This isn’t a GAME. STOP gouging prescription drug prices, pharma. Welcome to the Week in Review.
Americans Pay More
A new report from the RAND Corporation found that prescription drug prices in the United States are 256 percent of the prices in other wealthy nations. That number jumps to nearly 350 percent for brand-name drugs. And prices show no sign of dropping anytime soon: Drug companies have hiked prices on at least 783 drugs in the first month of 2021 alone. — (Axios)
2.Welcome to the Team!
This week, P4AD and P4ADNow welcomed Sheila McLean as our new executive director. Sheila comes to us with decades of experience in advocacy and public health work, as well as her own patient experience with high-priced prescription drugs. We are thrilled to have her leadership! — (P4AD)
3.A Mandate for Congress
Eighty-seven percent of voters say that they want lawmakers to keep their promises “to lower prescription drug prices and hold Big Pharma accountable,” according to a new poll from Morning Consult. An overwhelming majority of voters also believe that lawmakers must prevent drug companies from pandemic price gouging. Voters are sending a clear message — the time for action is now. — (Morning Consult)
4. Say No to Pandemic Price Gouging
The U.S. government has pumped over $18 billion into the development and manufacturing of COVID-19 vaccines, and now it must ensure that the vaccines are affordable for all Americans, writes Aaron Kesselheim, an associate professor of medicine at Harvard Medical School. Drug companies should be allowed to make a reasonable profit for their work, but price gouging on taxpayer-funded vaccines is not how we will keep the virus at bay long-term. — (Bloomberg)
5. “A Vicious Cycle”
High prescription drug prices disproportionately impact communities of color. According to a new report, Latinos are more likely to live with chronic health conditions and depend on prescription drugs to manage their health. Sixty percent of Latinos report having delayed seeking medical care or filling prescriptions due to high prices. We must fix this broken drug pricing system that contributes to a cycle of health and economic inequality. — (UnidosUS Action Fund)
Here’s to a historic week. Welcome to the Week in Review.
The Time is Now
Candidates who campaigned on promises to lower prescription drug prices have taken their seats as members of the 117th Congress, creating the best environment in years for serious drug pricing reform. Patients are ready to work with Congress and President Biden to get it done. — (FiercePharma)
2.One Step Closer
Last Friday, the Maryland Senate voted to override the governor’s veto of a bill that would provide permanent funding for the state’s prescription drug affordability board. Now, the House of Delegates must follow the Senate’s lead and allow the first-in-the-nation board to continue its important work of lowering the costs of prescription drugs for Marylanders. — (The Washington Post)
3.These Are Our Stories
This month, patient advocates living with conditions like cystic fibrosis, type 1 diabetes, and psoriatic arthritis spoke out about the high prices of their prescription drugs and their worries about what the future holds. “In order to avoid these interruptions in my dosing, I’ve been forced to dip into my savings and jeopardize my financial health to preserve my physical health. I felt that I had no choice. And I consider myself one of the lucky ones,” writes Kip Burgess, who lives with psoriatic arthritis. Jay Gironimi, who lives with cystic fibrosis, adds, “We shouldn’t be forced to decide between financial ruin and detrimental health outcomes.” — (P4AD)
Welcome to the Week in Review.
Price Hikes Price Out Patients
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)
