Perspectives: If Biotech Is Truly Serious About Curbing Drug Prices, Symbolic Gestures Aren’t Going To Cut It
Read recent commentaries about drug-cost issues.
Stat:
Biotech Must Reshape The Pricing Debate And Protect Innovation
The week before the craziness known as J.P. Morgan 2020 began, more than 300 biotech and biopharma leaders signed onto the “New Commitment to Patients” published by STAT, promising to put patients first when it comes to treatment access and pricing comprised. Aside from the sad irony that such a commitment needed to be stated at all, the open letter was a sign that at least some in the industry recognize that more public accountability on pricing is urgently needed. (Craig Martin, 1/29)
The Hill:
Competition, Not Capping Increases, Is The Cure For High Drug Prices
Soaring prescription drug prices are putting financial pressure on families across the country. In response, state legislators are increasingly considering limits on the annual price increase of prescription drugs. But rather than making drugs more affordable, these policies risk reducing consumer access to cheaper, generic alternatives. In an effort to slow the ongoing rise of prescription drug prices, lawmakers in Maryland created the country’s first state prescription drug affordability board in May of 2019. Among other powers, the board will be able to review and cap the price of generic prescription drugs if they increase by 200 percent or more for patients covered by public state insurance plans. The law also extends to any prescription drug whose price would create vague “affordability challenges” for the state health care system or its patients. (Oliver McPherson-Smith and Steve Pociask, 1/22)
Stat:
Individuals, Institutions Can Counter Medication Overload
Money talks in Washington, D.C., and no sector of the economy speaks more loudly than the pharmaceutical and biotech industry. Its flow of cash has fostered an epidemic of medication overload. Over the past five years, pharma has spent about $1.2 billion lobbying federal lawmakers, far more than any other industry. The industry has massive influence over public policy, much of it devoted in recent months to hindering legislative efforts to lower drug prices. (Shannon Brownlee and Judith Garber, 1/28)
Connecticut Post:
More Work To Do On Prescription Drug Prices
On Dec. 12, the U.S. House of Representative took a vital step to lower prescription drug costs and passed the Lower Drug Costs Now Act. This bipartisan bill offers real relief to the millions of Americans who struggle to afford their needed medications. The bill would allow Medicare to use its buying power to negotiate lower drug prices, create an out-of-pocket cap for seniors in Medicare Part D and crack down on excessive drug price increases. (Anna Doroghazi, 1/29)
Forbes:
High Cost Of Prescription Drugs Equals Age Discrimination On Steroids
The U.S. Congress has spent untold time and resources impeaching President Donald Trump, an issue that would otherwise be resolved in the upcoming November election. Meanwhile, research published by the American Heart Association (AHA) last fall showed that one in eight adults with common heart diseases and stroke skip taking medications, delay filling prescriptions and take lower does than prescribed because of concerns about cost. That’s 2.2 million people nationwide. (Patricia Barnes, 1/28)
