Clamping Down On Drug Prices Stifles Innovation, Influential Analyst Says
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
FiercePharma:
Do Pharma Buyouts Hurt Innovation And Lead To Higher Prices? Analyst Hits Back At FTC's Push For Tougher Reviews
In recent years, Democratic commissioners at the U.S. Federal Trade Commission (FTC) have clashed with their Republican counterparts over the agency's standards for large biopharma transactions. Now that they’ve come into power under the Biden administration, the Democrats have launched a sweeping review that threatens to clamp down on industry deal-making. One influential biopharma analyst disagrees with the FTC's stated reasoning for implementing tougher reviews. In fact, the new stance could be counterproductive, he argued. Large pharma consolidation can hurt R&D and lead to higher drug prices, Democratic commissioners have said. But those concerns are unfounded, SVB Leerink analyst Geoffrey Porges countered in a recent note to clients. (Liu, 4/26)
NJ.com:
Cutting Prescription Drug Prices Should Be Next Biden Priority, Powerful N.J. Dem Says
Angry over the high costs of prescription drugs. House Democrats campaigned on reducing drug costs when they won their majority in 2018. So did Joe Biden during his successful bid for president in 2020. On Thursday, Rep. Frank Pallone Jr. and other House committee chairs once again introduced legislation designed to lower drug costs after seeing a similar effort fall short when Republicans controlled the Senate. (Salant, 4/23)
MinnPost.com:
House Bill Would Give New Board Power To Challenge Drug Prices In Minnesota
Language in a 300-page Minnesota House commerce and energy omnibus spending bill would create a new state board that could challenge large increases in prescription drug prices. Under the bill, the seven-member board could conduct a cost review if it identified high introductory prices for new drugs or sizable price hikes for existing drugs. And if pricing were considered unjustified or unaffordable, the board could set caps on how much patients and health plans would have to pay. (Callaghan, 4/26)
Today:
4 Ways To Save Money On Prescription Drugs And Lower The Cost
Does it ever seem like prescription drug prices are wildly varied? If you've made this observation, you're absolutely correct — in fact, the same drug can often have different prices depending on who is purchasing it and where. NBC News investigative and consumer correspondent Vicky Nguyen reported on a new online pharmacy that could help certain customers cut their costs on generic prescriptions. The company says that their average customer saves about $1000 a year. And in a time when we're all looking to save money, paying less for that medication can have a big impact. (Koenig, 4/21)
