Potential Fallout From Calif. Ballot Initiative Has Pharma Sweating The Elections
A measure to curb drug prices, from such an influential state, could create a ripple effect for the industry that threatens its current status quo. Meanwhile, Valeant announces more price increases.
The Wall Street Journal:
The Biggest Pharma Election Risk Is In California
The possibility of Democrats capturing the presidency and Congress is worrying enough for pharmaceutical and other health-care investors. But that isn’t the full extent of risk that shareholders face this election season. ... Most of her proposals would require an act of Congress to enact, which becomes more likely the better Democrats do at the voting booths.There are risks elsewhere too, though. California voters are set to weigh in on a referendum known as Proposition 61. (Grant, 10/16)
The Wall Street Journal:
Valeant Sets Price Increases For Some Drugs
Valeant Pharmaceuticals International Inc. on Friday said it was raising the prices of its stomach, neurology and urology drugs from 2% to 9%, effective immediately. The company also said it wouldn’t increase the prices of its eye and skin drugs at all this year. Yet Wells Fargo Securities said Valeant raised the price of three eye drugs in September, each by 9.9%. (Rockoff and Steele, 10/14)
In other pharmaceutical news —
Stat:
What Side Effects? Most Consumers Don't Read Drug Risk Information
A recent study found that, while about 80 percent of those viewing risk information for a fictitious allergy drug claimed to have read at least half or more of the warnings, an eye-tracking tool found they actually read little to none of the cautionary material on a product website. Of 29 people, eight did not read any of the side effect disclosure, some of which was supposedly unique to this medicine. (Silverman, 10/14)
Stat:
The Insulin Market Is Heading For A Shakeup. But Patients May Not Benefit
The insulin market, dominated by old drugs that have skyrocketed in price, is on the verge of a shakeup. The first “follow-on” insulin for diabetics, similar to a generic medication for synthetic drugs, will hit the market in December. It’s expected to be followed in the coming months and years by a wave of new follow-on and “biosimilar” insulins that have the same protein structures as brand-name products. Experts predict that these new insulins will carry lower prices — but it’s far from certain that the competition will drive down costs overall. (Robbins, 10/14)
