Morning Briefing
Summaries of health policy coverage from major news organizations
Perspectives: Valeant's Problems Go Far Beyond 'Noise' Of Negative Media Articles
Bloomberg: Valeant's Defense Is All Noise, No Substance
According to Valeant CEO Joe Papa, speaking at a BMO health care conference on Wednesday, the company's biggest problem is click-hungry journalists writing negative articles, which he characterized as "noise." And there I was, thinking it was the continued decay of the specialty pharmaceutical firm's business in the shadow of a $30 billion debt load, a biblical list of pending lawsuits and investigations, and a near-complete lack of tangible evidence of improvement. (Max Nisen, 12/15)
Los Angeles Times: Soaring Insulin Prices Highlight Futility Of 'Free Market' For Meds
A key feature of Republican plans to replace Obamacare is allowing market forces to boost innovation and competition among healthcare providers. “Unleashing the power of choice and competition is the best way to lower healthcare costs and improve quality,” declares House Speaker Paul Ryan in his conservative manifesto “A Better Way.” (David Lazarus, 12/20)
Fortune: Healthcare In 2017: Rising Drug Costs, Obamacare, And More Predictions
Despite the public shaming of Valeant and Mylan, little is done by Congress to curtail or rollback price increases that far outpace inflation. While Congress may occasionally hold hearings to put pressure on drug makers, it will not be enough to prevent collusion of the entire drug delivery ecosystem to improve their bottom lines at the expense of the commercial employers funding healthcare. (Bob Kochker, 12/19)
Bloomberg: Gilead's Merck Loss Means It Should Spend More
Gilead Sciences Inc. is learning how losing money can sometimes force you to spend even more money. The pharma giant may owe $2.54 billion to Merck & Co. Inc. for infringing on its hepatitis C (HCV) drug patents, a federal jury said on Thursday. A judge may yet decide Gilead has to pay as much as three times that figure and give up a portion of future sales. (Nisen, 12/16)
