Morning Briefing
Summaries of health policy coverage from major news organizations
Perspectives: Pharma Is Making Exciting Progress On Drugs But We're Left With Sticker Shock
The Hill: Rapid Flurry Of New Drug Pricing Leaves No Room For Public Debate
We are fortunate to live in an era of tremendous medical advances. In the last few weeks alone, the Food and Drug Administration (FDA) has approved breakthrough products for pediatric cancer, a rare form of blindness, and now adult non-Hodgkin's lymphoma. These breakthroughs have been enabled by tremendous progress in science, as genetic technologies are beginning to live up to some of hopes of the scientists who sequenced the human genome two decades ago. (Kevin A. Schulman, 10/26)
Stat: Drug Company Sales Reps Should Be Banned From Hospitals
We’re in an era of increasing scrutiny toward the cost of medications. Health care providers, patient groups, and even our president have criticized the disproportionately high prices that patients in the U.S. pay for drugs compared to other countries. Much of the responsibility, of course, falls to the chain of businesses that develop, manufacture, distribute, and sell medications — and those in between — all of which determine how much it costs to fill a prescription. (Ashish Advani and Ashley Dolphus, 11/1)
Los Angeles Times: CVS-Aetna Deal Could Have Same Result As Telecom Mergers — Higher Prices
The news that CVS Health is making a $66-billion play for health insurer Aetna inevitably raises two key questions for consumers: What would this do to insurance rates? What would this do to drug prices? At this point, the answer to both questions is nobody knows for sure. We’re heading into uncharted territory. (David Lazarus, 10/31)
Bloomberg: Aetna's Silence Doesn't Mean It's Not Listening To CVS
Silence may still be golden for Aetna shareholders. On its earnings call Tuesday morning, Aetna Inc. refused to discuss "rumors and speculation" about a possible acquisition by CVS Health Corp. But don't take that as a sign the company isn't interested. (Max Nisen, 10/31)
Bloomberg: Merck Has Good Reasons For Its Keytruda Delay
Slow and steady has been winning the race for Merck & Co. Inc.'s Keytruda in the multi-billion-dollar market for immune-boosting cancer medicines. Now it's being punished for that approach. Merck on Friday revealed a change to a highly anticipated trial of Keytruda in combination with chemotherapy in newly diagnosed lung-cancer patients. It may push trial results into 2019, a year past previous expectations. Merck revealed later on Friday it was withdrawing an application for European approval of the combo based on a smaller earlier study. Shares dropped 6 percent on Friday and fell another 6 percent on Monday after analyst downgrades. (Max Nisen, 10/30)
Bloomberg: Celgene Shows The Hazards Of Long-Term Guidance
Celgene Corp.'s public vision of the future has consistently featured unrelenting optimism and rapidly expanding sales growth. Now it's reaping the rewards of over-promising. Celgene on Thursday reported third-quarter revenue that fell short of analysts' estimates and cut its 2020 revenue targets, hurt by a slowdown for key medicines and a drug-trial failure. Shares fell nearly 20 percent. (Max Nisen, 10/26)
Cleveland Plain Dealer: Weighing Ohio Issue 2, Where A Symbolic "Yes" Against Drug-Pricing Greed Might Feel Really Good, But Is It The Right Choice?
Few in Ohio are unaware of Issue 2, thanks to the avalanche of ads. From listening, you could be either scared of rising drug prices or fighting mad at the greedy drug companies. But most are just confused and totally uncertain as to how to vote! And the real underlying questions are not addressed at all. (J.B. Silvers, 10/29)
Komo News: Yes, You Can Talk To Your Doctor About Drug Costs
Even for those who have insurance, the cost of prescription drugs can be a budget buster. And yet, many of these people don’t talk to their doctor about it. A recent national poll conducted by the University of Michigan found that 27 of the respondents who were 50 to 80 years old considered their prescription drug bills to be a financial burden, the UC Berkeley Wellness Letter reports. Nearly half of them never told their doctor about this, even thought this is clearly a medical issue that their doctor should know about. (Herb Weisbaum, 10/31)
