drug prices
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AstraZeneca Loses Lawsuit Challenging Drug Price Negotiation by Medicare
A federal judge disagreed with AstraZeneca’s claims that the Inflation Reduction Act causes harm by disincentivizing innovation and violates its constitutional rights to due process. Blockbuster AstraZeneca drug Farxiga is one of 10 medications selected for the Medicare drug price negotiation program created by the law.
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Why One Expert Thinks the Medicare Drug Price Negotiation Program Is Here to Stay
Merith Basey, executive director of Patients For Affordable Drugs, believes the Medicare price negotiation program is here to stay, no matter who is president and no matter how many Big Pharma players file lawsuits. Her reasoning? Every other high income nation has been negotiating prices with drugmakers for years, and the program is widely popular in the U.S. among pretty much everyone who isn’t a pharma company, she said during a session at Engage at HLTH.
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Do you advise self-insured employers? You Can Help Us!
Take part in this survey and share some of the trends you are seeing among your clients across healthcare, including chronic conditions, behavioral health and navigation.
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US Prescription Drug Costs More Than Double Those in Canada
Increasingly, patients in the U.S. look to Canada for more affordable prescription options since the Canadian government regulates drug costs. Some companies have noticed and are beginning to capitalize on the demand.
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Lawsuits Against Medicare Drug Negotiations Are Mounting, But They Probably Won’t Be Able to Stop The Plan
Lawsuits filed in opposition to the White House’s drug pricing negotiation program are beginning to mount, but legal experts agree that the plaintiffs’ arguments probably won’t hold up during a court battle. However, these lawsuits still could delay when the government’s ability to negotiate price goes into effect.
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Why One Healthcare Lawyer Thinks Merck’s Drug Pricing Lawsuit Defense ‘Makes No Sense’
Merck recently became the first drugmaker to sue the federal government over its Medicare drug price negotiation program. The company’s lawsuit argues that the program violates the Constitution’s First and Fifth Amendments, but healthcare law expert Robin Feldman said the defense doesn’t have any legs.
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AHIP Targets Big Pharma in New Campaign
America’s Health Insurance Plans’ new campaign aims to show how health insurers are working to create savings for Americans while also targeting Big Pharma (or more specifically drug manufacturers) for increasing drug costs. The ads will be distributed on TV, social media and streaming services.
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2 Senators Release Framework Targeting PBMs
Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Chair Ron Wyden (D-Oregon) introduced a bipartisan framework that lays out the key challenges federal prescription drug programs are dealing with, as well as potential solutions.
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Pharma, BioPharma, Legal, Payers
HHS Cites 27 Medicare-Covered Drugs Whose Prices Rose Faster Than Inflation
Companies who raised drug prices higher than the rate of inflation must rebate the difference to Medicare, according to a provision of the Inflation Reduction Act. The highest-profile product on the list might be AbbVie’s blockbuster immunology drug Humira.
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Novo Nordisk Follows Eli Lilly’s Lead, Lowering Insulin Prices up to 75%
Novo Nordisk can afford the price cuts prices to several branded and non-branded insulins. Flattening revenue for the pharmaceutical giant’s insulin products is offset by demand for diabetes and obesity drugs from its semaglutide franchise, which continues to grow by leaps and bounds.
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Trayt Health Seeks to Increase Access to Diagnoses and Treatments
CEO Malekeh Amini explains how Trayt Health can bridge the gap for patients seeking neurological care.
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Eli Lilly’s Insulin: Cheaper for Patients Without Much Financial Hit to the Firm
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.
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Making Pharmacy Benefits Transparent and Returning Control to Patients and Employers
Transcarent wants to transform the digital pharmacy benefit experience, enabling self-insured employers and their staff to make more informed choices.
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Cost of Amylyx ALS drug revives pricing debate for new meds in rare diseases
In pricing its new amyotrophic lateral sclerosis drug Relyvrio, Amylyx Pharmaceuticals chose a sum that’s just below the current cost of the last ALS drug to win FDA approval. But a drug price watchdog group argues that prices should be set based on therapeutic value, not according to the price of existing medications.
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Health Tech, Pharma, Startups, SYN
Lyfegen raises $8M for its value-based drug contracting platform
Lyfegen, a startup that provides software for value-based drug contracting, recently raised $8 million in an oversubscribed Series A financing round. With the new funds, the company — which is based in Switzerland and New York — plans to expand its presence in the U.S., where drug costs are the highest in the world.
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3 ways to reform the pharmacy benefits industry
At the upcoming INVEST Digital Health conference in Dallas set for September 28, in collaboration with Health Wildcatters, a panel discussion on the future of pharmacy benefit managers will be part of the larger conversation on employee benefits. AJ Loiacono, CapitalRx CEO, shared his perspective on the topic.
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November will bring political change. Will it also change drug prices and PDUFA?
Drug prices are on the minds of patients and politicians. The November election is expected to tip the balance of power in Congress and a panel held during the Biotechnology Innovation Organization’s annual meeting discussed what that change could mean for drug price legislation.