Employers Feel The Pinch Of Rising Drug Costs
In other corners of the marketplace, the Houston Chronicle reports on how drugmakers and venture capitalists are focusing on promising cancer treatments.
The Wall Street Journal:
Employers Battle Drug Costs
Rising drug costs are forcing tough decisions on those who foot the bill for much of American health care: employers. The pinch is most acute for the many large employers that are self-insured—hiring an insurance company to administer benefits but paying the bill themselves. (Loftus, 12/18)
Kaiser Health News:
Health Plans’ Coverage Of Some Drugs Can Be A Source Of Consumer Confusion
Patients getting chemotherapy or other complex medications may have a sudden panic when shopping for health insurance: Their drugs often don’t appear to be covered. Despite advice to shop around before selecting a plan, consumers may find that getting answers about drug coverage can be an exercise in frustration, despite a federal health law requirement that insurers provide lists of the prescription medications included in their plans. (Appleby, 12/21)
The Houston Chronicle:
Drugmakers, Venture Capitalists Race To Invest In Promising Cancer Treatments
In a boardroom overlooking Central Park, Dr. Laurence Cooper was being grilled, again. Cooper, an M.D. Anderson Cancer Center pediatrician, had come to Wall Street last year hoping to interest investors in his research. Up to that point, he had relied on grants - typically none more than $200,000 - to support his personalized therapy unleashing the immune system to attack tumors. Now he needed industry's financial backing to realize the vision. ... A buying frenzy had erupted over the type of immunotherapy that Cooper was peddling. Drug companies were investing heavily, gambling that complex treatments still in the earliest stage of development might provide the next generation of blockbusters. The payoff for patients could be a whole new way of treating cancer, even if it's likely to further escalate the disease's exorbitant costs. (Ackerman and Hawryluk, 12/19)
And Martin Shkreli resigns from his CEO position -
The Associated Press:
Shkreli Resigns As Turing CEO After Securities Fraud Arrest
The pharmaceutical executive reviled for price-gouging resigned Friday as head of the drug-maker Turing Pharmaceuticals, a day after being arrested on charges of securities fraud related to a company he previously ran. (12/18)
