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)
TEN days to go. Welcome to the Week In Review.
1.Dubious Discount Cards…Disappear?
The Trump administration’s vow to deliver $200 drug coupons to Medicare beneficiaries before Election Day is a no-go, according to Medicare officials. Such a move may violate election law and has triggered congressional requests to review the plan. What Americans desperately need now is lasting reform to lower drug prices, not another political ploy that changes nothing for the millions of people suffering under Big Pharma’s greed. — (The New York Times)
2. Stage Set for Drug Pricing Reform in 2021
In 2021, Congress is expected to continue its push to lower drug prices that was — understandably — interrupted by the COVID-19 pandemic. Regardless of the makeup of the 117th Congress, one thing is certain: Our legislators must work together to stand up to Big Pharma and provide relief to all Americans. — (FierceHealthcare)
3.Double-Charged in a Pandemic
Billions of dollars in federal funding flowed to pharma’s coffers to develop COVID-19 vaccines. Now, pharma plans to charge Americans a second time for the taxpayer-funded doses and make a killing on the public investment. This game is rigged — we’re being set up to pay twice. — (Salon)
4. Oh, COME ON
The FDA on Thursday approved Gilead’s COVID-19 drug remdesivir, only days after data from a WHO megastudy suggested the drug had “little to no” effect on COVID-19 patients and did not prevent death. Even so, one course of treatment for the taxpayer-funded drug is $3,120, a price that ignores the massive taxpayer support that prompted its creation. Accessibility to an expensive COVID-19 treatment with mixed reviews shouldn’t be one more thing we need to worry about. — (STAT)
5.Milking Mayhem
Pfizer could make as much as $3.5 billion next year from its potential COVID-19 vaccine and $1.4 billion in the years following, according to analysts. Drug corporations are treating this unprecedented public health crisis as a way to cash in. — (FiercePharma)
We need Clare-ity on drug prices.
1.Follow the Money: Pharma Peddles Influence in State Races
Big Pharma’s tentacles are reaching into the industry’s deep pockets, throwing millions in cash donations at state candidates’ races across the country to prevent state legislatures from passing drug pricing reform, a comprehensive investigation into the money flow found. Pharma may have the cash, but we must use our voices and votes to call on our legislators to stand up to drug companies and protect us from predatory pricing. — (STAT News)
2. Drug Pricing on the Ballot
On Tuesday, Patients For Affordable Drugs Now hosted a presidential town hall on drug pricing featuring representatives from the Trump and Biden campaigns and moderated by Kaiser Health News’ Elisabeth Rosenthal. We are grateful for their participation in a substantive conversation about how to lower drug prices — a top issue for many voters heading to the ballot box. Watch the full event here. — (Patients For Affordable Drugs Now)
3.Taxpayer Cash Flows to Pharma
AstraZeneca received $486 million from the U.S. federal government for the development and supply of 100,000 doses of its COVID-19 antibody treatment. Let’s add it to the growing list of vaccines and treatments that taxpayers have funded — we deserve to see our investments reflected in the final price. — (Reuters)
4. Transparency Needed
The government has awarded billions of dollars in COVID-19 vaccine deals to drug companies through a third-party organization, bypassing typical contracting and leaving American taxpayers in the dark about how their money is being spent. Taxpayers need transparency now. — (NPR)
5. Betting on Pandemic PR
The drug industry is betting its outsized role in the COVID-19 pandemic will buoy reputations and profits — not to mention increase political leverage as the companies face drug pricing reforms. Pharma’s work on vaccines and treatments does not erase the industry’s history of abusive pricing and monopolistic behavior. We must stay the course and continue our work to hold Big Pharma accountable and lower drug prices. — (The New York Times)
Time flies when you’re lowering drug prices.
1.We Already Own It
Moderna has promised not to enforce patent rights on its developing COVID-19 vaccine “while the pandemic continues” and is “willing” to license rights afterward, meaning other drug companies could produce vaccines based on the same technology. Good. But remember, taxpayers 100 percent funded the vaccine candidate. It should already belong to the people. — (The Wall Street Journal)
2. Do Better, America
On average, Americans pay about 11 times more for insulin than people with diabetes living in peer countries, according to a study from the RAND Corporation. Big Pharma is going to continue charging what it can get away with for this vital, life-saving medication until our elected leaders make lasting, meaningful reform. — (Axios)
3.Big Pharma Scam
Pfizer has sued the federal government in an attempt to weaken federal policies prohibiting direct copay assistance for Medicare beneficiaries. The company claims it’s just sticking up for patients who need a $225,000 Pfizer drug to treat a rare and potentially fatal cardiac condition. But all is not as it seems. Copay assistance is a Big Pharma scam. These programs blunt patient sensitivity to drug costs, putting taxpayers on the hook to pick up outrageous price tags. Instead of copay scams, we need comprehensive drug pricing reform to bring down the prices pharmaceutical companies set in the first place. — (Barron’s)
Welcome to the Week in Review.
1.Pharma Exposed
The House Committee on Oversight and Reform released reports on five pharmaceutical manufacturers’ abusive pricing practices this week. The reports, part of an 18-month investigation led by the committee, revealed internal company documents that expose a disturbing pattern of abusive pricing practices, anti-competitive behavior, and manipulative marketing campaigns. The documents exposed that pharma’s favorite talking points are nothing more than smoke and mirrors. — (Bloomberg, FiercePharma)
2. Debate Dishonesty
During Tuesday’s presidential debate, President Trump claimed that he has drastically lowered the prices of prescription drugs, including insulin, which he claimed is “so cheap, it’s like water.” Our verdict? False. Many insulin-dependent patients still pay hundreds of dollars each month, and pharma companies have actually hiked drug prices during the pandemic. The president has spent nearly four years in office talking about lowering drug prices, but we’ve yet to see meaningful action. — (STAT)
3.Life or Death
Drug pricing is emerging as a top issue this election year, with candidates from both parties fighting to claim it as their own. But at the heart of the issue are patients like Travis, who is forced to seek lower insulin prices from other countries, and Jacquie, who worries about what she would do if her insurance stopped covering her drug. Lowering drug prices should be more than a talking point for politicians — for many Americans, it’s a matter of life or death. — (Center for Health Journalism)
1. “I live, battle, and conquer sickle cell”
A new Patients For Affordable Drugs Action ad features Floridian Clayton “DJ” Martin, who shares his worries about high drug prices and urges voters to support candidates who will take action to lower prices. The ad is part of a 15-state campaign to elevate the issue of drug prices across the country. We are grateful to DJ and all patient advocates for their tireless work to stand up to Big Pharma. — (Florida Politics)
2. Called to the Stand
Six pharma executives representing some of the biggest names in the drug industry are testifying in front of the House Committee on Oversight and Reform next week. The committee’s probe on unethical and anti-competitive drug pricing practices continues the important work of its late chairman, Rep. Elijah Cummings. We’ll be watching the hearings, and we look forward to getting some long-awaited answers. — (FiercePharma)
3. Dubious Discount
President Trump announced Thursday that he will send $200 discount cards to 33 million Medicare beneficiaries. Had he kept his commitment to lower drug prices, he wouldn’t need to promise some Medicare beneficiaries a dubious discount card days before an election. Americans need systemic, enduring drug pricing reforms, not election-year gimmicks. — (STAT)
4. The System is Rigged
The entire drug pricing system is broken, from drug companies that set ever-increasing list prices to pharmacy benefit managers that keep rotating formularies. And who’s paying the price? Patients, who often face uncertainty and exorbitant drug costs at the pharmacy counter. It’s long past time for change. — (The New York Times)
5. Her Story, Her Voice, and Her Vote
Patient advocate Ramae Hamrin, a Minnesota resident who has multiple myeloma, is sharing her story to push for drug pricing reforms that will benefit us all. “Even if you are not in my shoes at the moment, you or someone you love could also be one step away from losing everything in order to simply stay alive. I’m more than happy to bring a face to the unfairness and high cost of prescription drugs for all of us in hopes that something can be done. It has to be.” — (Incurable Blessings)
