Insulin prices have long been a pain point for diabetics. The big three insulin manufacturers have cut prices across their product lineups, but potential competition from other biosimilar insulins is still in earlier stages of development.
Amazon Pharmacy announced Tuesday that it is launching automatic coupons for more than 15 insulin and diabetes care brands. The move, while incremental, solves a major pain point for consumers with diabetes, as many struggle to afford insulin products.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Eli Lilly is slashing prices for its insulin products and capping a patient’s monthly out-of-pocket costs at $35. But a financial analyst notes that the company can afford to cut prices on older medicines like insulin because the strategy will help it maintain pricing power for innovative new drugs.
High prices have drawn other critics, as well, including President Joe Biden. He renewed his call for a broad price cap during his annual State of the Union address. Pharma companies insist they have been part of the solution.
California's Office of the Attorney General contends that drugmakers and pharmacy benefit managers work together to “aggressively raise the list price of insulin in lockstep with each other to artificial levels.” Insulin manufacturers deny the allegations, pointing to availability of lower-cost versions of their products.
Civica Rx plans to make lower cost versions of three branded insulin products, biosimilars that are expected to reach the market in 2024. In addition to $30 vials, Civica plans to sell pen cartridges at $55 for a box of five.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Not all drugs will be subject to price negotiation under the revised legislation. But the agreement sets up a framework enabling Medicare to negotiate the prices of medicines that have been on the market for a long time, and also caps the monthly price of insulin, which has been a flashpoint of drug price debate.
Walmart struck a deal with Novo Nordisk to offer a heavily discounted, private-label version of its fast-acting analog insulin. But it still doesn’t solve the pricing problems patients have faced, with insulin costs skyrocketing in recent years.
More than 1,750 Medicare part D plans and Medicare Advantage plans will limit out-of-pocket insulin costs to a $35 copay next year. The change would make patients' out-of-pocket costs more consistent than the current system, where payments fluctuate in different stages of their Part D plan.
Senators Chuck Grassley and Ron Wyden are demanding that Cigna turn over documents on insulin pricing, as part of a larger probe on rising insulin costs. The lawmakers claim that large pharmacy benefit manager Express Scripts, which Cigna acquired in 2018, is failing to comply with the investigation.
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While many sellers were found to express altruistic motives, the researchers wrote that improperly stored insulin creates risks of lost potency and contamination. The findings highlight the need for substantive policy reform, according to the study's lead author.
In a draft guidance, the agency proposed guidelines reducing the need for clinical trials to test insulin biosimilars for the potential to provoke immune system reactions. European regulators stopped recommending immunogenicity trials for insulin biosimilars in 2015.
At an event during the annual American Diabetes Association Scientific Sessions in San Francisco, representatives from PBM, health plan, drug manufacturing and patient advocacy groups came together to discuss the causes of increasing insulin prices and potential solutions to the problem.
Edwards Deming’s rule that “Every system is perfectly designed to get the results it gets” is perfectly on display in the wrongheaded way patients who are dependent on insulin get their medication at higher costs. The system can be redesigned by employers and others.
A company representative said that while a full list of covered products isn't available, the plan is to include all forms under the program, which could help more than 700,000 people in a Cigna or Express Scripts plan.