Biden Teams Up With Sanders In Battle To Lower Weight Loss Drug Prices
Read recent pharmaceutical developments in KFF Health News' Prescription Drug Watch roundup.
FiercePharma:
Biden Joins Sanders' Campaign Targeting Novo Nordisk, Eli Lilly's Diabetes And Obesity Drug Prices
In recent months, frequent pharma critic Sen. Bernie Sanders has been ratcheting up a campaign against Novo Nordisk over the price of its popular diabetes and weight loss medicines. Now, the senator has big-time backup in his fight. In a new USA Today op-ed piece, President Joe Biden and Sen. Sanders blasted Novo Nordisk for "charging the American people unconscionably high prices" for its popular GLP-1 medicines Ozempic and Wegovy. (Sagonowsky, 7/2)
Investor's Business Daily:
Novo Nordisk Stock Falls After Biden Slams Drugmaker For 'Unconscionably High' Prices
Novo Nordisk stock slumped Tuesday after President Joe Biden and Sen. Bernie Sanders slammed the drugmaker and rival Eli Lilly for "unconscionably high" prices for weight-loss drugs. The two companies criticized their position. Biden and Sanders said the companies can make their weight-loss drugs for significantly less than they charge. (Gatlin, 7/2)
Read the editorial by President Biden and Sen. Sanders —
USA Today:
President Biden: Novo Nordisk, Eli Lilly Must Stop Ripping Off Americans With High Drug Prices
As president of the United States and the chairman of the Health, Education, Labor, and Pensions Committee in the Senate, we have long been concerned about the outrageous prices that the pharmaceutical industry charges the American people for prescription drugs. There is no rational reason why Americans, for decades, have been forced to pay, by far, the highest prices in the world for the prescription drugs they need. (President Joe Biden and Sen. Bernie Sanders (I-Vt.), 7/2)
Other news about the high cost of prescription drugs —
Fox Business:
Prescription Drug Prices Have Surged Almost 40% Over The Past Decade
The cost of prescription drugs in the U.S. has surged nearly 40% over the past decade, easily outstripping the pace of inflation, according to a new study. Findings published by GoodRx, a drug savings company, show that the list price for prescription drugs has climbed about 37% since 2014. Although price increases have slowed this year, costs continue to pose a "significant burden" to many consumers. In 2024 alone, Americans have spent $21 billion on out-of-pocket prescriptions. That amounts to about $16.26 per person, according to the data. (Henney, 7/2)
The Wall Street Journal:
Mail-Order Drugs Were Supposed To Keep Costs Down. It’s Doing The Opposite.
A key tool that businesses have counted on to keep a lid on employees’ drug spending—filling workers’ prescriptions by mail—is now driving up their costs. Unity Care NW, a nonprofit health clinic in Washington state, forecasts the cost of medical and drug benefits for its 365 employees and their family members will increase this year by 25% to more than $3 million. A big reason: Drugs delivered by mail are costing multiples more than those picked up at a store counter. (Hopkins, 6/25)
Time:
What To Do If You Can’t Afford Your Medications
After Jackie Trapp was diagnosed with multiple myeloma, an incurable blood cancer, in 2015, she thought her biggest health shock was behind her. Then came the bills for Revlimid, a powerful cancer drug that her doctor said was her best hope for controlling the disease. The first month’s supply cost $11,148; the second, $12,040—and her insurer denied coverage. “I’d need to take the drug every month, for years,” says Trapp, 59, a former high school teacher and realtor from Muskego, Wis. “My husband and I had done well in our careers, we’d been frugal and we’d saved, but there was no way paying $120,000 a year or more was sustainable.” (Harris, 6/27)
