Morning Briefing
Summaries of health policy coverage from major news organizations
Democratic Hopefuls Put Forward Plans To Tackle High Drug Costs As 2020 Jockeying Begins
The Hill: 2020 Dems Go On Offense Over Drug Prices
Potential 2020 Democratic presidential contenders are rolling out a slew of plans to lower prescription drug prices, highlighting the importance the issue will hold in the coming campaigns. Just in the past two weeks, Sens. Kamala Harris (D-Calif.), Cory Booker (D-N.J.) and Elizabeth Warren (D-Mass.) have unveiled new drug pricing plans. Democrats see lowering drug prices as a way to harness populist anger at pharmaceutical companies and reclaim an issue that President Trump has put in the spotlight. (Sullivan, 12/25)
The Wall Street Journal: Drugmakers Raise Prices On Hundreds Of Medicines
Pharmaceutical companies are ringing in the new year by raising the price of hundreds of drugs, with Allergan PLC setting the pace with increases of nearly 10% on more than two dozen products, according to a new analysis.Many companies’ increases are relatively modest this year, amid growing public and political pressure on the industry over prices. Yet a few are particularly high, including on some generics, the cheaper alternative to branded accounting for nine out of 10 prescriptions filled in the U.S. Overall, price increases, including recently restored price increases from Pfizer Inc., continue to exceed inflation. (Hopkins, 1/1)
Morning Consult: As Drug Prices Soar, Policymakers Eye Dose Of Government Intervention
A Republican-led White House and Senate, a Democratic House majority and the American public usually have their eyes on different health-related priorities — but heading into 2019, all sights are set squarely on the rising cost of prescription drugs. While pharmaceutical companies turn staggering profits, Americans often face higher prices for their medications compared to patients abroad. The cost of prescription drugs has become a critical issue for voters, driving people to the polls during the midterm elections and unveiling a rare opportunity for bipartisanship. (Murad, 12/20)
Stat: 3 State Legislative Battles To Watch In 2019
Drug pricing is on the agenda here in 2019. But with Republicans controlling the Senate and Democrats controlling the House — and neither party fully on board with the White House’s work on drug pricing — the next two years are unlikely to be an era of wholesale change for the country’s health care system or how prescription medicines are priced. Congress could find some low-hanging fruit to address, to be sure, and the Trump administration could continue with a series of proposals to lower patient costs and government spending on drugs. (Facher, 12/28)
Stat: The Inside Story Of PhRMA's Biggest Lobbying Loss In Years
The drug industry’s storied lobbying group isn’t accustomed to bad news — and with its small army of well connected advocates, it’s even less familiar with surprises. For PhRMA, the news last winter was both. On Feb. 7, the group’s board — made up of dozens of the CEOs of major pharmaceutical companies including Amgen, Johnson & Johnson and Sanofi — was gathered for a meeting to welcome its new chairman. Suddenly, the gathered crew had something far more threatening to discuss: Congress had just laid out a plan to force drugmakers to pay far more into Medicare — a policy change none of pharma’s lobbyists had seen coming. (Florko, 1/2)
Axios: Why The Spotlight On Generic Drug Prices Is Getting Brighter
Generic drugs are America's solution to high branded drug prices, but recent events have raised the question of whether the generics market is working the way it's supposed to. (Owens, 12/20)
Bloomberg: Two Big Pharma Stocks Were Dow's Best, But 2019 Looks Shakier
In a year where U.S. stock-market indexes rallied to records and then reeled back amid concerns over an international trade war, pharmaceutical giants Merck & Co. and Pfizer Inc. were kings of the Dow. The drugmakers rose along with the rest of the Dow Jones Industrial Average in a summer rally, then outlasted the market’s autumn decline. Through Friday, the pair were the top performers in the 30-stock Dow. On the broader S&P 500 Index, another big drug company, Eli Lilly & Co., was among the 20 largest gainers. (Lipschultz, 12/31)
Stat: Crash And Burn: Why Three Biotechs Failed In 2018
There is an appointed time for everything — including in biotech. There is a time to start a company, a time to wind it down, a time to go public, and a time to delist the stock. For every hopeful biotech toiling for decades before finally realizing a profit, there are countless others that run out of money or bet on a product that never delivers. (Sheridan, 12/24)
Stat: Two High-Priced Drugs For Spinal Muscular Atrophy Called Not Cost Effective
A pair of new medicines designed to treat spinal muscular atrophy, a rare and often fatal genetic disease affecting muscle strength and movement, may be beneficial but appear to be priced too high to be considered cost effective, according to a preliminary analysis. One drug, which is called Spinraza, costs $750,000 during the first year of treatment and $375,000 thereafter. (Silverman, 12/20)
Bloomberg: China To Expand New Drug-Buying Plan To More Cities, Medicines
China is pushing ahead with a campaign to slash generic drug prices that has wiped out $46 billion in value from pharmaceutical companies since it was launched earlier this month. The government will expand a central procurement program to more regions and more drugs, Vice Premier Sun Chunlan said at a meeting of the National People’s Congress standing committee, according to China Business News. The initiative was first launched Dec. 6 with 11 major cities and 31 drugs. (12/28)
Stat: Canada Ends Probe Of Drug Makers Accused Of Thwarting Generic Rivals
Following a two-year probe, Canadian authorities have decided there was insufficient evidence that three large drug makers tried to thwart generic rivals by blocking access to samples of their medicine, an issue that has caused controversy in the U.S., as well. Generic drug makers are required to run tests proving their low-cost alternatives act similarly as the brand-name medicines, but samples are needed to prove their case. (Silverman, 12/21)
