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The Week in Review in Drug Pricing

Lies, deceit, and cartels! 

Welcome to the week in review in prescription drug pricing!

1. The gift that keeps on taking

An investigation into patient assistance programs reveals the truth. They are a tool used by Big Pharma to drive up drug prices and keep cash flowing in. — (KARE11

2. Former pharma exec makes jaw-dropping admission

Matt Eyles, the head of AHIP and former VP for Pfizer said “I sat in many pricing committee discussions; not once did anyone ever say ‘How much did we spend on research and development?'’” We can't even.  — (Axios)

3. Murky money grab

Pharma sets drug prices super high. The middleman get really really rich. Patients get squeezed. Ohio reporters question our broken system.  — (Columbus Dispatch)

4. Insulin cartel deserves a red card

The unjust and seemingly coordinated insulin price hikes have driven people on both sides of the aisle to demand answers. Congress must investigate the insulin drug cartel.— (The Hill

5. Pharma pumps up stocks with corporate tax break cash

A new report by Sen. Cory Booker (D-NJ) says billions in tax cuts have been used to fatten pharma shares, not lower prescription drug prices. Womp womp. — (Report)

Heads up: 

Sen. Amy Klobuchar (D-MN) and Sen. Chuck Grassley (R-IA) sent a letter Friday calling for a federal investigation into “pay for delay” deals of biosimilar drugs. Bipartisan ❤️ for lower drug prices.

Have a great weekend, everyone!

 

The Week in Review in Drug Pricing

Are “massive” drug price cuts around the corner? Novartis raises drug prices. And the CREATES Act jumps a key hurdle.

Welcome to the week in review in prescription drug prices.

1. Negotiating price cuts?

Pharma CEOs coughed on their Champagne when President Donald Trump said that major drugmakers would announce “massive” drug price cuts in mid-June. HHS officials have been making calls and meeting with pharma to push for price cuts. The government negotiating with drug companies is a good thing. Time for Medicare to do the same. — (The Hill) 

2. Eli Lilly CEO says patients are “suffering”

If only he was the CEO of a major drug company who could do something about it. — (MSNBC)

3. Novartis raises the roof drug prices

Drug giant Novartis raised the prices of four drugs: Promacta, Mekinist, Tafinlar and Kisqali. If you’re keeping track, Novartis previous raised the price of Promacta in January.— (Politico

4. CREATES jumps a key hurdle

Members of the Senate Judiciary Committee voted 15-6 to move forward the CREATES Act, a bill to police abuses by brand-name drugmakers that stall generics from hitting the market. The forward movement marked a small and rare victory for patients from the nation’s capital. Kudos to Chairman Grassley and Senator Leahy for their leadership. — (STAT

5. This is not what we meant by transparency in drug pricing

BIO conference guests are partying with topless dancers while everyday Americans can’t afford their prescription drugs. So there’s that. — (Washington Examiner)

Have a great weekend!