What’s Really Happening To Insulin And Epinephrine Prices?
Read about the biggest pharmaceutical developments and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
USA Today:
Fact Check: Biden Freezes Rule On Health Center Insulin, EpiPen Prices
The claim: President Joe Biden is 'reversing' an executive order put into place by Donald Trump to reduce patient costs for insulin and epinephrine. For years, members of Congress have pressured drug companies and pharmacy benefit managers to bring under control the rising costs of insulin and epinephrine for millions of Americans with diabetes or allergies. (Rood, 1/30)
PolitiFact:
Why Are Insulin Prices Going Up? Chuck Grassley Explains It
More than 7 million Americans require insulin to treat their diabetes but some people struggle to afford the cost. On Jan. 14, 2021, Sen. Chuck Grassley, R-Iowa, tweeted, "2day Sen Wyden & I released Finance Cmte report on INSULIN costs Prices hv gone THRU THE ROOF for patients/taxpayers bc of manufacturer, health plan & PBM biz practices They make $$ as % of ballooning list price so no incentive to lower price on 100 yr old drug." Grassley has a history of attempting through proposed legislation to lower the cost of the drug, and Sen. Ron Wyden, D-Oregon, worked with him as the ranking minority member on the Senate Finance Committee when Republicans controlled the Senate. (Black, 2/2)
In other news —
Grand Forks Herald:
North Dakota Senate Committee Hears Proposals To Lower Prescription Drug Costs
The Senate Human Services Committee heard testimony last week on three bills aimed at getting North Dakota consumers access to lower prescription prices. ... The first of the three, SB 2170, would create a system to set payment rates for prescription drugs based on international prices, specifically the price of those drugs in Canada. The bill would compare prescription drug prices in America to prices in Alberta, B.C., Ontario and Quebec. After comparison, the lowest price would be used as reference rate, or maximum rate, for consumers. (Buissinne, 2/1)
Modern Healthcare:
Pennsylvania Auditor Claims Express Scripts, Highmark Insurance Overcharged County $1.6 Million For Prescription Drugs
A county official in southwestern Pennsylvania is alleging an insurer and pharmacy benefits manager overcharged Lehigh Valley $1.6 million for prescription drugs over a three-year period, an experience that Controller Mark Pinsley said is far too common in an opaque industry. "This is, as they would say, a standard practice," Pinsley said. "This is why standard practices need to be changed." (Tepper, 1/29)
KOLD and AP:
Latino Population Highly Impacted By High Prescription Costs, Organization Says
In a recent report, an organization that advocates for the Latino population in the United States says when it comes to prescription costs, the Latino population is greatly impacted by high prices. According to the UnidosUS Action Fund, Latinos in the U.S. are more likely to live with chronic health conditions that require prescription medicines to stay healthy, but are more likely to be uninsured. (1/28)
Montana Free Press:
How To Bring Transparency To Prescription Drug Prices?
Montana lawmakers are considering a bill that supporters say would bring more clarity to prescription drug prices and eventually lead to lower costs. The Senate Business, Labor and Economic Affairs Committee heard testimony Friday on Senate Bill 137, which would improve prescription drug pricing transparency. Under the proposal, prescription drug makers would be required to file an annual report with the state disclosing the wholesale price of any drugs sold in Montana. Manufacturers would also be required to provide reasons for price increases if the cost of a drug jumps by 10% or more in a single year or 30% or more over the prior three years. (Aadland, 1/29)
