Morning Briefing
Summaries of health policy coverage from major news organizations
Perspectives: California's Proposition 61 Is Well-Intentioned, But Flawed
Stat: California Ballot Lets Voters Lash Out At Pharma, But Will It Work?
As Americans grapple with the rising cost of medicines, a contentious ballot measure in California is being billed as a fix to an intractable national problem. Known as Proposition 61, the proposal would require state agencies to pay no more for prescription drugs than the US Department of Veteran Affairs, which receives a federally mandated 24 percent discount from manufacturers. In theory, that would lower drug costs for up to 7 million residents of California who get insurance coverage for their medicines through various state agencies, including low-income residents on the state version of Medicaid. (Ed Silverman, 10/31)
The New York Times: The U.S. Is Standing In The Way Of Cheaper Drugs For The Poor
Every few months, a drug company gets caught cranking up prices. Most recently, Mylan, the maker of EpiPen, took its turn in the hot seat for raising the price of a lifesaving allergy treatment by 500 percent. Congress was rightly enraged and opened yet another inquiry into pharmaceutical price gouging. Mylan offered discount coupons. The story will soon fade from the headlines — until the next pricing scandal. (Jason Cone and Raymond C. Offenheiser, 10/27)
Forbes: Big Pharma Has Broken Its Social Contract: How To Restore Fairness In Drug Pricing
Outrage over repeated hikes in the price of lifesaving EpiPens is the latest example of pharmaceutical companies breaking the social contract with patients who rely upon their medicines. Just as hospitals have an ethical commitment to treat patients regardless of their ability to pay, pharmaceutical companies have a similar obligation to ensure those who have a medical necessity for a drug are able to receive it. (Kenneth L. Davis, 11/1)
Bloomberg: Valeant Walks A Thin Green Line
On Halloween 2016, Valeant Pharmaceuticals International Inc. saw some ghosts. The specialty pharmaceutical firm's shares fell 12 percent on Monday, after Bloomberg News reported ex-CEO Michael Pearson and ex-CFO Howard Schiller are the subjects of a criminal probe over potential accounting fraud, related to Valeant's now-dead (or undead?) relationship with the specialty pharmacy Philidor. (Max Nisen, 11/1)
Bloomberg: AbbVie's Eternal Humira Sunshine May Darken
When it comes to AbbVie Inc., all eyes are always on Humira. It's the best-selling drug in the world and makes up 63 percent of AbbVie's sales, but competition from biosimilar copies is looming. (Max Nisen, 10/28)
Stat: This Drug Discount Program Is Good For Americans. But Pharma Wants To Gut It
Sticker shock over the cost of drugs isn’t going away any time soon. Drug prices spiked 7 percent last year, the highest rate since 1992. Compare that with the modest increase of just 0.8 percent in hospital care costs. So why is the pharmaceutical industry working to gut a federal program that helps make medicines and hospital services affordable to the most vulnerable among us? (Ted Slafsky, 11/1)
Morning Consult: High Drug Costs Forced Me To Sell My Home
With campaign season at its peak, every day we hear why each candidate should be trusted to address the challenges facing our country. Despite the seemingly constant political coverage and criticism of the Affordable Care Act, there has been a dearth of realistic solutions proposed, especially regarding substantive and timely relief for patients impacted by exorbitant prescription drug costs. According to the Kaiser Family Foundation’s Health tracking poll conducted in September, 77 percent of Americans say prescription drug costs are unreasonable, and this number is up from 72 percent a year ago. Political candidates should be paying more attention to these issues. (Carly Medosch, 11/1)
Concord Monitor: The Path To Cheaper Drug Prices
Drug lords look with envy on the markups some pharmaceutical companies get away with. Hospitals, clinics and physicians are sick over the relentless and rapid rise in prescription drug costs that can no longer be escaped by substituting generic medications. Premiums under the Affordable Care Act are expected to increase by 25 percent, in part because the law does nothing to reduce the drug costs that are becoming an ever bigger factor in the increasing cost of health care. (10/27)
