Perspectives: Instead Of Relying On Other Countries To Set Prices For Drugs, We Should Be Doing It Ourselves
Read recent commentaries about drug-cost issues.
The U.S. Should Calculate The Economic Value Of Drugs On Its Own
One reason why prescription drugs are often priced lower overseas is that many countries perform detailed assessments of the economic value of drugs and their benefits. These assessments result in hard bargaining with drug companies before the medicines are allowed into national health plans. ...Rather than outsource the assessment of drug values, the U.S. should do it for itself. An independent, government-funded entity — let’s call it the Institute for Health Technology Assessment for the moment — would be the right vehicle for making recommendations to Medicare for drug prices that encapsulate U.S. values. (William V. Padula, 1/17)
U.S. Drug Prices Could Fall If Bipartisan Measures Succeed
So far, the Trump administration hasn’t made much headway against drug prices, but a new Congress is poised to help. It’s not just that Democrats have retaken control of the House of Representatives; it’s also that many Republicans have decided to act. Majority Leader Mitch McConnell says he’ll allow the issue on to the Senate agenda this year, and Republican Senator Chuck Grassley, the new chairman of the Finance Committee, has endorsed specific measures to increase competition. This favorable political landscape can yield real progress against America’s extraordinary drug prices, if lawmakers and the White House look for common ground on common-sense strategies. (1/17)
Biosimilars And Interchangeability: FDA's Approach Makes Sense
The old adage “haste makes waste” usually makes sense. The Food and Drug Administration is following that adage in its thorough and thoughtful approach to building the ground rules for a successful biosimilars market in the United States. Some in the pharmaceutical industry are calling for a faster solution to bringing biosimilars into the market. (Richard Markus, 1/23)
Beckers Hospital Review:
Mount Sinai CEO Dr. Kenneth Davis: 5 Ways To Lower Drug Prices
High drug prices are one of the most pressing issues facing patients today, and the U.S. government must take action to help relieve the significant burden these prices present. Here are five areas the American government should address in order to lower drug costs. (Kenneth L. Davis, 1/22)
FDA's Banner Year For Approvals: Will Market Access To New Drugs Follow Suit?
It's not hyperbolic to say that 2018 was a sensational year for Food and Drug Administration (FDA) approvals of new drugs and biologics. And this occurred on the heels of a highly successful 2017, with the largest number of approvals in more than two decades. Once again in 2018, orphan and cancer drug approvals led the pack. Of the 59 new drugs approved in 2018 by the Center for Drug Evaluation and Research, 34 were drugs targeting rare diseases, 19 were first-in-class agents, and seven were biosimilars. Also, 43 (73%) went through the priority review process, 24 (41%) were fast-tracked, and 14 (24%) were designated as breakthrough therapies. (Joshua Cohen, 1/21)
Albany And Washington Focusing On Drug Costs
As the first topic for the state Senate investigations committee he now heads, James Skoufis, D-Woodbury, could not have chosen a more important and nonpolitical target. The committee plans to look into allegations that those who wield power over the prices of prescription drugs are undercutting pharmacies on reimbursements and to explore the relationship between them and regulators in the state Department of Health. (1/22)