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Sorry, the Inflation Bill won’t lower healthcare costs

World of DTC Marketing

It’s no wonder that voters consistently rank bringing down prescription drug prices and other measures to reduce the cost of care as among Congress’ top priorities. Congress rightly chose to negioate drug prices for Medicare, but prescription drugs are only 10-12% of every healthcare dollar we spend.

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 The US accounts for more than 40% of all health spending.

World of DTC Marketing

Hospitals, physicians, and clinical care made up more than half of the total healthcare spending in 2019. The lack of choice limits competition, which can drive prices higher. According to KFF, “ the cost of health care often prevents people from getting needed care or filling prescriptions. Half of U.S.

Insurance 154
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Pharma’s reputational high will be short-lived

World of DTC Marketing

Pharma has gone to court again and again to delay generic competition of biologic drugs. One company AbbVie has used the courts to stop competition of its top drug Humira. For 2020, AbbVie’s handing its longtime CEO $24 million in total pay, up from 2019’s $21.6 In fact, Richard Gonzalez, C.E.O.

Pharma 186
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Pharma is “big business” that uses excuses to keep prices high

World of DTC Marketing

Seventy-nine percent of Americans think the price of prescription drugs is “unreasonable,” according to a 2019 Kaiser Family Foundation poll , and about 9 in 10 say they support the idea of the government negotiating prices. Via Axios “The 10 highest-selling drugs in the U.S.

Pharma 241
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Katie Porter attacks pharma

World of DTC Marketing

The cost of bringing a drug to market decreased from $2,168 million in 2018 to $1,981 in 2019. Pharma is NOT blameless, but like I have said in the past, even if all prescription drugs were free, healthcare costs would still be unsustainable in this country. In pharma R&D returns have declined to 1.8 percent from 2018.

Pharma 187
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Novartis said to be eyeing sale of ophthalmology, respiratory units

pharmaphorum

Novartis completed the spin-out of Alcon in 2019, separating products like contact lenses and over-the-counter eyedrops from its prescription eye medicines, headed by age-related macular degeneration (AMD) blockbuster Lucentis (ranibizumab), which is partnered with Roche. billion in the first nine months of this year.

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Pharma sector reels as UK Government doubles VPAS payback rate on NHS drugs

Pharmaceutical Technology

For 2019–23, this was capped at 2% per year. During 2019–21, when sales being close to predicted levels resulted in single-digit payback rates, the scheme was relatively popular with the pharma sector.