How Big Pharma Dodged An Obamacare Overhaul
News outlets report on the pharmaceutical drug industry.
Politico:
The One That Got Away: Obamacare And The Drug Industry
President Barack Obama’s landmark health care bill shook up the health care system. One key player escaped the upheaval largely unscathed: Big Pharma. Scrounging up all the money to pay for Obamacare’s massive coverage expansion brought deep pay cuts to hospitals and health plans. And for those industries, it fundamentally changed the rules of the game. ... The pharmaceutical industry, on the other hand, hasn’t much changed — except its prices are higher and there’s nothing in the health law that allows the government to push back. Prescription drugs are now the fastest growing category of medical costs. Pharma companies are charging $84,000 for a new hepatitis C cure, more than $14,000 for new cholesterol treatments. Novel cancer therapies routinely run six figures. (Karlin-Smith and Norman, 7/13)
The Washington Post:
Maker Of $84,000 Drug Avoided $10 Billion In U.S. Taxes, Report Says
Over the last few years, Gilead Sciences has grown into one of the world’s largest pharmaceutical companies, fueled by the sales of expensive specialty treatments for hepatitis C. The company’s revenue has tripled since 2012, to $32.6 billion last year. According to a report to be released Wednesday, Gilead has also developed another specialty: Avoiding billions in taxes. (Merle and Johnson, 7/13)
Marketplace:
New Class Of Generics Could Save Consumers, Insurers Billions. FDA Is Moving Carefully.
Europe is home to a growing class of generic drugs, called "biosimilars," that can treat conditions like cancer and rheumatoid arthritis. While folks on that side of the Atlantic have about 20 of these new generics on the market so far, the Food and Drug Administration has just approved two in the U.S. Later this week, the agency is slated to hold meetings on two other biosimilar applications. (Gorenstein, 7/13)
Stat:
Q&A: Why The World Health Organization Plans A Fair Pricing Model For Drugs
Over the next year, the World Health Organization wants to develop a fair pricing model for pharmaceuticals. Toward that end, the agency plans to convene governments, patient groups, and drug makers to fashion the notion into something realistic. The trick is to find the right balance between access to affordable medicines and enticing companies to develop new and improved medicines, while also ensuring lower-cost generics remain available. We spoke with Suzanne Hill, the secretary to the WHO Expert Committee on the Selection and Use of Essential Medicines, about how the agency hopes to get this done. This is an edited version of our conversation. (Silverman, 7/7)
The Associated Press:
Lower-Cost Biotech Drug Gets Thumbs Up From FDA Panel
The second-biggest selling drug in the world could get some cheaper competition in the U.S., after a federal panel endorsed an alternative version of the pricey medication used to treat rheumatoid arthritis and other inflammatory diseases. A panel of Food and Drug Administration advisers voted unanimously in favor of Amgen’s version of AbbVie’s Humira, a biotech drug that raked in nearly $15 billion last year, according to IMS Health. While not binding, the recommendation likely paves the way for FDA approval of the knockoff drug. (Perrone, 7/12)
Stat:
Can Anyone Shake The EpiPen Monopoly? Here's One Company That's Trying
The price of EpiPens, used to treat severe allergic reactions, has soared, more than quintupling since 2004. One reason: There’s just not much competition. Several rivals to the EpiPen, which is manufactured by Mylan, have emerged in recent years, only to fall by the wayside. Sanofi’s Auvi-Q was recalled late last year. The FDA is asking Adamis, a small San Diego biotech developing its own pre-filled auto-injector, for more patient data. Another auto-injector, the Adrenaclick, isn’t considered on par with the EpiPen, and is prescribed far less frequently. (Keshavan, 7/7)
Kaiser Health News:
Sounds Like A Good Idea? Regulating Drug Prices
This is the second in a series of videos about health care promises from presidential candidates that “sound like a good idea.” Julie Rovner of Kaiser Health News explores why proposals to regulate drug prices may not be such a good idea after all. (Rovner, Ying and Nguyen, 7/11)
Stat:
How Global Warming Could Help Martin Shkreli's Old Company Stay Out Of Bankruptcy
After years of work on monoclonal antibodies, KaloBios Pharmaceuticals announced last fall it was winding down operations. A white knight came in the unlikely form of Martin Shkreli, who took over the company with a $3.2 million investment and stepped up as its CEO — until he was arrested on securities fraud charges. The company looked again on the verge of insolvency. It’s managed to right its course a bit, however, announcing last week that it has emerged from bankruptcy and raised new funding. STAT chatted with new CEO Dr. Cameron Durrant, who joined KaloBios in March (with a salary of $50,000 per month). (Keshavan, 7/5)
Stat:
Drug Maker Loses Battle Over Canada’s Right To Impose A Price Cap
A closely watched skirmish over the cost of prescription drugs has ended in defeat for a company that sought to challenge the right of a Canadian agency to impose a price cap on a pricey medicine. In a June 23 ruling, Canada’s Federal Court dismissed a constitutional challenge that Alexion Pharmaceuticals filed against the Patented Medicine Prices Review Board, which early last year sought to keep a lid on the cost of the company’s Soliris medication. (Silverman, 7/8)