National Pharmacist Group Calls For Ban On Direct-To-Consumer Ads From Drugmakers
News outlets report on the pharmaceutical drug industry.
FiercePharma:
Pharmacists Join Physicians' Rallying Cry For A Ban On Pharma's DTC Advertising
The anti-DTC advertising train is getting crowded. This week a national pharmacist group, the American Society of Health-System Pharmacists, joined the physicians of the American Medical Association in a call to ban DTC ads. ASHP had been provisionally tolerant of DTC ads--that is, it was unopposed as long as the advertising met certain prerequisites. It had to be educational, using easy to understand language for benefits and risks; include directions for adverse event reporting; and promote safety and allow informed decisions. (Snyder Bulik, 6/20)
Stat:
More Health Plans Want To Pay For Drugs Based On Patient Outcomes
As angst mounts over prescription drug costs, a survey finds that most health plans would like to pay for many of the highest-priced medicines based on patient outcomes. The findings suggest that insurers hope to get tougher with drug makers as prescription medicines, by some estimates, account for more than one-fifth of overall health care costs. In these arrangements, a health plan may get an extra discount from a drug maker if a medicine does not help patients as much as expected, or a drug maker may get a credit toward a rebate provided to a health plan. The survey, released last week, found interest was particularly strong for hepatitis C and oncology drugs, although plans have started to use these arrangements for other types of drugs, as well. (Silverman, 6/21)
FiercePharma:
Most U.S. Payers Are Eyeing Outcomes-Based Drug Pricing: Report
Pharma may have pulled off only a few outcomes-based pricing deals with payers, but companies are likely to add more to that list soon--many more, if payers have their way. A majority of health plans want to ink outcomes-based contracts with biopharma drugmakers, particularly in the hepatitis C and oncology arena, according to a new report from Avalere. Other therapeutic areas are also up for grabs, though, with multiple sclerosis and rheumatoid arthritis among the areas payers would most like to target. Even drugs for widespread chronic conditions--such as cardiovascular meds--are also on payers’ radar. (Staton, 6/20)
Stat:
Supreme Court Asks Obama Administration For Views On Biosimilar Rules
In a move with implications for health care expenses, the US Supreme Court has asked the Obama administration for its views on a heated dispute over a rule that will determine when lower-cost biosimilar medicines can be launched. At issue is the ability of brand-name drug makers to delay the introduction of biosimilars, which are highly identical versions of expensive biologics. And the court wants the US solicitor general to help determine whether it should hear about a contentious battle between two big drug makers — Amgen and Sandoz — that might settle the matter. (Silverman, 6/21)
Bloomberg:
Lilly’s Older Drugs Face More Price Pressure Than Newer Ones
Eli Lilly & Co.’s older drugs are more prone to price pressure than its newest ones, a company executive said Friday on a call with investors. Drugmakers face raised scrutiny from patients, health insurers and politicians over the high cost of prescription medicine. Yet Indianapolis-based Lilly’s comments make clear that its customers are willing to pay up for the most innovative treatments even as the industry faces pushback on price increases on older therapies. (Hopkins, 6/17)
FiercePharma:
PBM Hardball, Specialty Med Slowdown To Curb 2017 Healthcare Spending Jump
Blockbuster drug launches have strained health systems budgets in recent years by driving sizable spending hikes. But that trend may be nearing a lull. Specialty drugs are “loosening their grip” on health spending growth, a new PwC report says. Issued Tuesday, the report predicts steady healthcare spending expansion in 2017 at 6.5%, the same figure as 2016, and a number that PBM negotiations are helping to moderate, the analysts said. PwC's Health Research Institute suspects that political pricing pressure and their clients’ needs for narrow formularies will drive PBMs to negotiate even more, offsetting areas anticipated to drive growth such as greater access to behavioral health. (Sagonowsky, 6/21)
U.S. News & World Report:
8 Ways To Get Help Paying (Or Cutting) Medical Bills And Drug Costs
Medical costs are rising across the U.S., and patients are left paying a bigger percentage of the bill. Most Americans, whether their health insurance is provided through an employer, the Affordable Care Act exchange or the open market, are paying a higher share of their medical care costs than ever before through increased copays and deductibles. Pharmaceutical costs are rising drastically as well, as consumer are paying a greater share of those costs and some insurers are providing no coverage for high-priced drugs. (Mears, 6/16)
Marketplace:
Pharma: An Industry Shaped By Shareholder Value
There’s a new way of doing business for much of Big Pharma. Instead of relying on their own expensive laboratories, they also buy drugs or their makers and focus on getting treatments through the Food and Drug Administration and onto your TV screens. Then, raise prices every year. Move overseas for tax advantages. And reward shareholders by buying back billions' worth of shares. It wasn’t always like that. (Bobkoff, 6/15)
New York Post:
Pricey Meds Are Jeopardizing Americans’ Retirement Plans
Nearly one-third of Americans were hit with price hikes for medications in the past year – and the pricey pills are jeopardizing retirement plans, family life, and overall health, according to a new report. People hit with price increases are more likely to tighten their budget by not taking their prescribed dosage, not bothering to fill their prescriptions, or not seeing a doctor at all, according to Consumer Reports. (Musumeci, 6/21)
FiercePharma:
Pharma Rep Pay Scrapes The Bottom Of The Medical Sales Barrel
Pharma reps, we have some good news and some bad news. The good: Starting salaries in your field are among the top 10 for entry-level jobs this year. The not so good: Once again, your pay ranks lowest among U.S. medical sales folks. According to an annual report from MedReps, pharma sales reps did have a higher base pay than some in the business--at almost $91,000, on average--but adding bonuses brought totals to a tad more than $122,000. And that’s lower than the rest of the pack. (Staton, 6/20)