Perspectives: Caravan Of Patients Crossing Into Canada For Insulin A Powerful Condemnation Of America’s Current Value System
Read recent commentaries about drug-cost issues.
The Washington Post:
A Caravan For Insulin Demonstrates How The American Health-Care System Is Failing Us
Americans like to be known for our can-do spirit. We view ourselves as optimists who can figure out a way around any obstacle. So let’s hear it for a group of problem solvers who figured out how to take those tropes, and use them to demonstrate the horror of the financial succubus that passes for our nation’s health-care system. The Post’s Emily Rauhala reported this weekend on Lija Greenseid, the mother of a 13-year-old daughter with Type 1 diabetes. Greenseid organized a caravan of people to drive to Canada to purchase insulin for themselves or their loved ones. The people on the trip say they are all but forced to take this action by the surging and unpredictable price of insulin in the United States. (Helaine Olen, 6/18)
Stat:
As Global Markets For Generic Drugs Fail, Poor People Pay The Price
Healthy competition from generic drugs is often held up as a “cure” for high drug prices — a shared concern across rich and developing countries alike. For many low- and middle-income countries, however, a new report from the Center for Global Development that we co-authored shows that global markets for generic medicines are failing, leaving the poorest patients without safe and affordable essential medicines. (Rachel Silverman and Amanda Glassman, 6/17)
The Hill:
It's Time To Let Medicare Negotiate Drug Prices
If we truly want to lower prescription drug prices for all Americans, the number one solution is allowing Medicare to negotiate directly with Big Pharma. While it’s true that there are several commendable proposals to address the problem — including greater transparency, regulating Pharmacy Benefit Managers, promoting more generic competition, and importing drugs from Canada – Medicare must be empowered to engage in price negotiations with drug-makers. It’s an idea President Trump supported during the 2016 campaign, but has yet to embrace in office. (Max Richtman, 6/14)
The Hill:
HHS's Ideas For Rearranging Medicare Would Raise Costs For Seniors
Eight in 10 Americans believe prescription drug costs are too high, according to a Kaiser Family Foundation poll. Given this widespread frustration, it's easy to see why the Trump administration has made reducing the cost of medicines a top priority. HHS officials claim to have a solution — changing which parts of the Medicare program pay for certain drugs. It’s a change for the worse. (Peter Pitts, 6/18)
Stat:
Combatting Misinformation On Biosimilars And Preparing The Market For Them Can Save The U.S. Billions
As politicians and policymakers debate effective ways to rein in rising health care costs, biosimilars represent an obvious solution for saving billions of dollars a year. These products offer the same safety and effectiveness as the reference biologics they are designed to match. So why aren’t they being embraced by patients, physicians, and payers? Blame that in part on misinformation about these products — some of it coming from the pharmaceutical industry — and the lack of market preparation to support the uptake of biosimilars in the U.S. (Hillel P. Cohen and Dorothy McCabe, 6/19)
Bloomberg:
Migraine-Drug Deal Hype Turns Into A Giant Headache
Biohaven Pharmaceutical Holding Co. has rapidly transformed from one of biotech’s darlings into a cautionary tale of overheated M&A hype. Shares of the developer of migraine treatments surged in April after Bloomberg News reported that the company was considering a sale; the stock then took another leg up earlier this month when Biohaven canceled plans to attend a Goldman Sachs health-care conference, fueling speculation a takeover was imminent. All those gains evaporated this week when the company instead announced that it was selling more shares, something that wouldn’t happen if a deal was in sight. (Max Nisen, 6/18)
Stat:
FDA’s Overreach Will Harm Compounding Pharmacies And The Patients They Serve
The deaths of 64 people and sickening of nearly 800 due to criminal negligence by employees of the New England Compounding Center in 2012 marked a profound failure of state and federal regulatory enforcement.That horrific episode led to Congress including in the Drug Quality and Security Act of 2013 provisions to create a more robust regulatory framework for compounding pharmacies — both small, local compounding pharmacies and larger distributors. The legislation instructed the FDA to create regulations within parameters set by Congress that would assure patient safety while permitting local compounders to continue to meet patient needs by providing customized compounded medications using FDA-approved substances. (Scott Bruner, 6/19)
The Hill:
Out-Of-Pockets Costs: Medicine's Biggest Problem And Government And Industry's Biggest Opportunity
Seniors in the United States are facing a drug affordability crisis. While overall spending on medicines remains relatively flat, patient costs continue to rise. Last month, IQVIA published a new report that noted nearly 20 percent of Medicare patients pay more than $500 out-of-pocket per year for prescription drugs, compared to only 8 percent of patients in commercial plans. (Justin McCarthy, 6/16)
Times Of San Diego:
Californians Suffering From High Drug Costs Need Legislative Action
In an effort to lower prescription drug costs, California lawmakers have sought ways to ease the high cost for patients suffering from life-threatening and chronic conditions, including cancer and many others. Recent legislation in California has helped increase transparency around prices, but more action is needed. The U.S. Department of Health and Human Services recently proposed an action that deserves support. Prescription drug rebates, intended by drug manufacturers for consumers, but most commonly swept up by middlemen, are rightfully under the microscope. (Ray Adler, 6/15)
Bloomberg:
Pfizer Takeover Of Array Biopharma Is Pricey Path To Growth
Pfizer Inc. is demonstrating once again how expensive it is for pharma firms to buy their way to growth. The company announced Monday morning that it’s paying almost $11 billion for cancer drugmaker Array Biopharma Inc. The deal would bolster Pfizer’s cancer portfolio and add medicines that could meaningfully augment sales and profit. But the company isn’t getting much of a bargain, and its recent track record with a similar deal is a cautionary tale for investors. (Max Nisen, 6/17)
The Wall Street Journal:
Growth Is Worth Paying Up For At Pfizer
A fact of life for health-care companies, as well as patients: Good health care costs money. Pfizer is paying more than $10 billion in cash to acquire Array BioPharma , ARRY 56.94% a biotech focused on developing cancer treatments. That is more than a 60% premium to last Friday’s closing price. And since Array generated just $35 million in product sales in its most recent quarter, Pfizer said Monday it doesn’t expect the deal to add to earnings until 2022. S&P Global Ratings said Monday it expects to lower Pfizer’s credit rating to AA- when the deal closes later this year. (Charley Grant, 6/17)
