The Week in Review in Prescription Drug Pricing

In New York, a panel makes a play to lower the cost of a charity-funded Vertex drug. Big Pharma’s shirt buttons pop off after it gorges itself on prescription drug price increases. And there’s this great new way to treat cancer that’s so expensive, the system can’t figure out how to pay for it.  
 
Welcome to the Week in Review!
 
1. Not having it

In the first test of a new law designed to lower drug prices, a New York panel said NOPE to Vertex Pharmaceutical’s $272,000 price tag for Orkambi. The state is demanding a rebate on the high-priced cystic fibrosis drug. If negotiations on the rebate fail, New York will attempt to get an explanation into the drug price. — (STAT) 

2. Big Pharma’s Q1 profit haul soars, despite big talk on lowering drug prices

People are suffering as the industry makes its killing, despite big talk that prices will come down. — (Axios)

3. The million dollar cancer treatment no one knows how to pay for

And that’s a big problem for cancer patients who only want to stay alive. A lower list price would mean greater access. — (MSN)

4. The forever burden

A patient with Crohn’s describes the trifecta of taxes — on her emotions, her time and wallet — as she comes to terms with the fact she needs a med worth tens of  thousands of dollars a year, for life, to feel fully human. — (Philly Enquirer)  

5. Pro or con?

Patients rely on co-pay assistance, but so do pharmaceutical corporations, to extract maximum profits from patients, consumers and taxpayers, a cost we all bear. This deep dive is worth your time. — (USA Today) 

Have a wonderful weekend, everyone. See you next week!

Happy Sunday! Big Pharma pours more money into lobbying than ever before. Scrappy Illinois legislators have come out swinging with a bill to stop price gouging aptly named, PHARMABRO. The president is expected to talk about drug prices — but will list prices come down? And I know this isn’t technically a drug pricing item but can we PLEASE talk about the nurse anesthetist who came in second in the Boston Marathon?

1. PhRMA gets desperate

• PhRMA, the drug industry’s no. 1 apologist, put $10 million big ones into lobbying in the first three months of 2018, more than EVER BEFORE. Stop fighting the sea change and start lowering drug prices, PhRMA! — (STAT) 

2. Trump to talk drug prices

• In his State of the Union Address, President Trump promised “prices will come down.” That’s the metric on which Americans will judge next week’s announcement. Will the proposals by the administration lower the list price of drugs? We’ll be watching. — (MarketWatch) 

3. Scrappin’ in Springfield

• A state representative from Chicago is taking on Big Pharma with an anti-gouging bill, dubbed PHARMABRO. Will Guzzardi’s legislation just passed the House. It would would empower the Illinois attorney general’s office to investigate price increases in generic drugs above certain threshholds.  

4. A first-of-its-kind

• Heads up. In New York, a drug utilization review board will meet April 26. It could recommend a supplemental rebate to lower the cost of the cystic fibrosis drug Orkambi by Vertex Pharmaceuticals. Forget rebates. We think Vertex should just drop its price. Check out the preview. — (STAT)          

5. It’s a crime in our books

• When science hinted cancer patients could take less of a $148,000-a-year drug, its maker tripled the price. Now that’s what they call pharmaceutical innovation. — (The Washington Post) 

6.  I know this isn’t a drug pricing story…but…

• We can’t let the week go by without giving props to the nurse anesthetist who nabbed second place in the Boston Marathon. I bet she’s into lower drug prices. — (The Boston Globe)

A patient speaks in Connecticut. Big Pharma helps itself to the spoils of a tax windfall. And one drug company CEO makes a strong play to be the next Martin Shkreli.
 
1. A cancer patient speaks

• In Connecticut, Greta Stifel told her lawmakers that her cancer medicines cost $22,000 a month. She’d like an explanation. — (NBC)

 
2. Profits over patients

• Drug corporations are not using tax windfalls to help patients. They’re using them to buy back stock. Which is very cool unless you’re sick, a taxpayer, or a person with a conscience. — (USA Today)

 
3. Ohio takes aim at PBMs

• PBMs operate in secret and the Buckeye State isn’t happy about it. — (Columbus Dispatch)

 
4. For cancer patients, less bang for their buck

• As cancer drug prices climb, the value is not keeping pace. — (Reuters)

 
5. Gouger Alert! Vertex CEO took home $78.5 million in 2017

•  Jeffrey Leiden won’t give children dying abroad access to charity-funded, life-extending cystic fibrosis medicines, but he will happily take home a $78.5 million salary package. — (Axios)

The week in drug pricing has been marked with dormant dashboards, broken promises and bloated CEO salaries.

So, let’s get to it.

1. Dormant drug dashboards

• HHS has not updated the databases that tell the public how much money the government is paying for drugs. The inaction follows repeated promises from President Trump that “one of my greatest priorities is to reduce the price of prescription drugs.” — (CNN)

2. “We were forced to file for bankruptcy to afford my insulin.”

• A patient speaks in Colorado. — (The Daily Sentinel)

3. Piles of gold skimmed off the backs of the sick and dying.

• Eye-popping CEO salaries that are, umm, not investments in R&D? — (Axios) 

4. Kickback schemes at Novartis?

• The accusations flying are sick, and yet, not surprising. — (STAT)

5. The Vertex CEO said a few things he might regret.

• For example, CEO Jeffrey Leiden noted that Vertex now “has a nice problem of accumulating cash very rapidly.” He forgot to mention that his company is holding dying children in a variety of countries hostage over its insane prices. — (Motley Fool)

Have a wonderful weekend, everyone. See you next week!

Shkreli begs for minimum security. Pharma lobbies Congress to sweeten the donut hole. And the Catholic health community gets a call for help.

Welcome to the week in review in drug pricing!

1. How will Shkreli fare in prison? Jury’s out

• Inmates weigh in. — (VICE)

2.  Congress is considering caving to pharma

• Will it lower drug corporations’ costs in the donut hole or hold strong for patients? (Politico)

3. Drugmakers ‘derelict’ if they don’t tackle this issue: Waxman

• Agreed. — (STAT)

4. Give patients a seat at the table

• They must be heard in the spaces occupied previously by industry stakeholders. And, the Catholic health care community can help! — (Journal of the Catholic Health Association of the United States)

5. Heads are snappin’ at health care consolidations

• But will these mergers help patients? Hmmm…— (L.A. Times)

Have a wonderful weekend, everyone. See you next week!