The Trump administration’s 11th hour attempt to bring down high prescription drug costs succeeded in drawing swift condemnation from health care stakeholders who frequently find themselves at odds. The finalization last month of two rules intended to ease the financial burden on patients — one of which aims to establish a direct connection between what
DANBURY, Conn.— The vast majority of patients in the United States are experiencing lower out-of-pocket costs for their drugs, paying a smaller share of costs and seeing a downward trend in their costs on average. That’s according to the latest report from The IQVIA Institute for Human Data Science, Medicine Spending and Affordability in the
WASHINGTON — House Speaker Nancy Pelosi (D., Calif.) on Thursday released her long awaited plan to lower drug prices for seniors on Medicare and younger people with private insurance. The proposal would allow Medicare to negotiate prices for up to 250 of the costliest drugs, including insulin. Drug manufacturers balking at negotiations would face harsh
There has been significant focus and attention paid to the issue of drug prices in the last few years. As Adam Fein, president of Pembroke Consulting Inc. and chief executive officer of Drug Channels Institute, has said, “Drugs are 12% of the costs, but 90% of the conversation.” Fortunately, the spirited national conversation about drug
Drug prices are a major target of patient groups and Congress, although drug spending makes up only 10% of the $3.3 trillion spent on U.S. health care in a year. The prices for certain specialty drugs, such as sole-source cancer and immune therapy treatments, has led to perceptions that drug prices are egregious and pose
NEW YORK — Drugmakers are increasing the price of hundreds of drugs by an average of more than 6%, according to a new analysis by Rx Savings Solutions. With pressure on the pharmaceutical industry to hold down prices mounting, many of the increases are relatively small. But some generics are seeing steep hikes, and overall
NEW YORK — Chain drug retailers reacted favorably to President Trump’s drug price cutting plan; branded pharmaceutical manufacturers less so. Walgreens, which had pharmacists at the White House for the president’s announcement of the proposal, said in a statement the blueprint “is a positive step forward in addressing the issue of rising drug prices.” The
WASHINGTON — The White House last month steered clear of extreme measures in issuing a plan to cut drug prices. While President Donald Trump called the proposal “the most sweeping action in history to lower the price of prescription drugs for the American people,” the plan left industry stakeholders relieved. Pharmaceutical company stocks even gained
One of the great paradoxes in medicine today is the reality that drug prices are rising at the lowest level in years, yet both patients and employers are feeling more of a squeeze on drug costs than ever before. Ironically both of these trends — slowing growth, rising pain at the pharmacy counter — have
WASHINGTON — The Food and Drug Administration today announced two new steps to increase competition in the market for prescription drugs and facilitate entry of lower-cost alternatives. The agency published a list of off-patent, off-exclusivity branded drugs without approved generics, and also implemented, for the first time, a new policy to expedite the review of
WASHINGTON — A U.S. Senate committee has begun a probe of recent spikes in pharmaceutical pricing. Sens. Susan Collins (R., Maine) and Claire McCaskill (D., Mo.), who lead the Senate Special Committee on Aging, on Wednesday said the bipartisan investigation will include hearings, with the first slated for next month. The lawmakers noted that the
