States and Prosecutor Demand Information About Insulin Drug Price Increases
Over the past decade, prices for lifesaving insulin drugs have skyrocketed. Between 2002 and 2013, the average price of insulin almost tripled, according to the American Diabetes Association. These price hikes are causing immense hardship for patients. But antitrust authorities and state governments, frustrated with federal inaction, are demanding information from drug companies and pharmacy benefit managers (PBMs) about how they contribute to higher drug prices. Back in Marc
CVS Proposes New Mega-Merger With Aetna That Would Harm Consumers
On Friday, many media outlets reported that CVS Health is in talks to buy Aetna for as much as $66 billion. This merger would be a massive consolidation of the healthcare industry, merging one of the largest PBMs in the country with one of America's oldest health insurers. Last year, Anthem attempted to merge with Cigna and Aetna attempted to merge with Humana in two gigantic deals worth tens of billions of dollars. We organized consumer groups, healthcare providers, and othe
Democratic Legislators Are Fed Up With Trump's Inaction, Introduce Medicare Negotiations Bill
Last year during his presidential campaign, Donald Trump accused drug companies of charging outrageous prices for prescription drugs and "getting away with murder." Soon after he took office, he promised that he would take swift action to bring down the cost of medicines. But since then, Trump has taken no action and supported not a single bill. Frustrated with his inactivity, Representatives Elijah Cummings and Peter Welch have sent him a sharp letter expressing their disapp
Allergan's Restasis Deal Continues to Encounter Criticism
In the past, we wrote about the drug company Allergan's attempt to evade competition and prolong its monopoly by transferring the patents for its eye drug Restasis to the Saint Regis Mohawk Tribe. Yesterday a coalition of consumer and health groups sent a letter to the Federal Trade Commission (FTC) urging the FTC to investigate Allergan's deal with the tribe and determine whether it violated the antitrust laws. Consumer groups are not happy with this proposed arrangement, an
Senate Committee Holds Second Hearing on Drug Delivery System and Drug Prices
This morning, the Senate Health, Education, Labor, and Pensions Committee held the second of three hearings on the cost of prescription drugs and how the drug delivery system affects what patients pay for medicines. Senators clashed with health industry executives and asked tough questions about how these companies contribute to higher drug prices. Senator Lamar Alexander (R-TN), chair of the Committee, announced that the hearing's goal was to learn about the factors contribu
Victory in California! Drug Price Transparency Bill Becomes Law
After a long, tough fight with drug companies, consumers in California can rejoice. Yesterday, California Governor Jerry Brown signed SB 17, a drug price transparency bill, into law. In his statement, Brown said there is "real evil when so many people are suffering so much from rising drug prices...The essence of this bill is pretty simple. Californians have a right to know why their medical costs are out of control, especially when the pharmaceutical profits are soaring...Th
Coalition Waits for Governor Brown's Action on Drug Pricing Bill
Healthcare providers, consumer and patient advocates, unions, and insurance companies are all waiting and hoping that California Governor Jerry Brown will sign a drug price transparency bill that will also requires drug companies to justify price hikes. Rising drug prices are a huge problem for consumers both in California and across the nation. The bill, SB 17, requires drug companies to provide state agencies and health insurers with at least 60 days' notice before they rai
Senator Amy Klobuchar: Drug Price Bills Will Likely Advance As Amendments to Larger Bills
This morning, the Atlantic Magazine held a forum titled “At What Cost? An Atlantic Forum on Drug Prices.” The event was underwritten by the pharmacy benefit manager (PBM) Express Scripts, but it had some useful information. Senator Amy Klobuchar (D-MN), one of the champions for lower drug prices, spoke about her bills, and offered some thoughtful insights into how legislation might pass Congress. Senator Klobuchar began with a statement that high drug prices are a more import
