Prices Jump 5% For 2022 On More Than 450 Prescription Drugs

Stat: Drug Makers Ring In The New Year With 5% Price Hikes
As 2022 gets under way, pharmaceutical companies have so far raised wholesale prices by a median of 4.9% on more than 450 prescription medicines, an overall annual increase that is comparable to the price hikes seen over the past three years, according to a new analysis. The numbers are preliminary, though, because still more price increases are expected to be disclosed by drug makers later this month, since not every company has reported their latest prices to industry databases. Nonetheless, the early indication is that many drug makers are keeping price hikes in check due to ongoing bad publicity that has sparked sustained political pressure. (Silverman, 1/3)

Axios: Gilead, Pfizer Among Drugmakers Raising Prices In 2022 
Drug companies raised the prices on hundreds of medications on Jan. 1, with most prices up 5% to 6% on average. The start of the new year is the most popular time for drug companies to hike prices, and even though high drug prices remain one of the biggest political health care issues, increases in 2022 are tracking in line with other recent years. (Herman, 1/4)

In other pharmaceutical industry news —

Modern Healthcare: CMS Officially Tosses 'Most-Favored Nation' Drug Pay Model
The Centers for Medicare and Medicaid Services officially tossed out a Trump-era policy that would have prevented Medicare from paying more for certain outpatient drugs than the lowest price paid by other wealthy countries, according to a final rule released last week. All but one of the 34 commenters on the proposed rule supported rescinding the policy, according to CMS. "We will continue to carefully consider this commenter's feedback and other stakeholders' feedback that we received as we explore all options to incorporate value into payments for Medicare Part B drugs, improve beneficiaries' access to evidence-based care, and reduce drug spending for consumers and throughout the healthcare system," the final rule said. (Goldman, 1/3)

Stat: HHS Appeals Rulings Over Drug Discount Program Just As AbbVie Is Latest To Cut Discounts
A heated clash over a U.S. government drug discount program has intensified after a federal agency appealed several recent court rulings that questioned its approach to enforcing a decades-old initiative. At the same time, AbbVie became the latest in a growing number of companies to restrict its discounts, adding to the disarray over a program that provides a safety net to low-income patients. In a series of filings made last week, the U.S. Department of Health and Human Services appealed decisions issued in different federal courts that, in varying degrees, raised concerns about the agency’s authority to administer its interpretation of the 340B Drug Discount Program. Some of the rulings, though, also chastised drug makers for taking unilateral steps to withhold discounts. (Silverman, 1/3)

Axios: Scoop: Novo Buying Medical Knowledge Group At $1.15 Billion Valuation 
Novo Holdings has won the auction for Medical Knowledge Group, which provides marketing services to drug companies, at a $1.15 billion enterprise value, four sources tell Axios. Drug therapies being developed today are increasingly aimed at smaller patient populations, which can complicate commercialization. If you have a true data analytics business like MKG, or a tech-enabled strategy, investors have no problem paying a premium. (Pringle, 1/3)

Also —

Bay Area News Group: Keanu Reeves Donated 70% Of 'Matrix' Pay To Cancer Research
While Keanu Reeves’ new installment in “The Matrix” franchise wasn’t quite the blockbuster that Warner Bros’ hoped, a new report shows the actor continues to win praise for being one of Hollywood’s most decent and well-liked celebrities. The new report, from Lad Bible, said that the 57-year-old “Resurrections” actor donated up to 70% of his salary from the original “Martrix” movie to cancer research. The New York Post added that Reeves was reportedly paid $10 million upfront for the groundbreaking 1999 science fiction film, before earning another $35 million when the movie became a box office blockbuster. Seventy-percent of those earnings meant that $31.6 went to leukemia research. (Ross, 1/3)

Stat: Texas Is Trying To Create The Next Research Triangle For Biotech. Will It Work?
Do you live in a city vying to be the country’s next biotech hub? Get in line. In recent years, the Berkshires, Salt Lake City, and even Rochester, Minn., among others, have jockeyed for the designation. Now, however, three cities in Texas — Austin, Dallas, and Houston — are combining resources in an effort to create a triangle of innovation, hoping to succeed where others have failed. Backers say the difference is a dose of Texas-sized ambition. (Bender, 1/4)

Stat: Covid-19 Politics Force State Lawmakers To Ponder Pharma Campaign Cash
Ohio state Rep. Beth Liston had accepted campaign donations from Pfizer before, but this time the check in her mailbox gave her pause. Debates over Covid-19 vaccine policy have roiled state legislatures across the country, including in Ohio. Video footage of a physician warning state lawmakers that vaccines magnetize people went viral over the summer, and Liston, a doctor herself, took it upon herself to be the public face discrediting the conspiracy theory. Liston is a Democrat, and she is a strong advocate for vaccination. She had never thought much of accepting a few hundred dollars from drug makers, but this year, she returned a $300 check from Pfizer and a $250 check from Johnson & Johnson to pre-emptively head off any questions about her intentions. (Cohrs, 1/4)

Stat: FDA's Peter Marks On Covid-19, Priorities, And Gene, Cell Therapy Reviews
No part of the Food and Drug Administration has been challenged by the pandemic quite like the Center for Biologics Evaluation and Research and its Office of Vaccines Research and Review. Now that center, which put some of its work on hold to review Covid-19 vaccine applications at record speed, is facing a new challenge: getting back to normal. (Florko, 1/4)