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.”
