There Is No Reason Humira Should Cost $38,000 Per Year. Ending Patent Abuse Will Help Solve This.
Humira, a patent prescribed drug with no generic options, costs over $38,000 per year. Why? The lack of regulation of drug prices, forbidding Medicare from negotiating lower prices, and abuse of the U.S. patent system. This is appalling; there is no reason why this drug should be so expensive, to the point where ordinary people cannot afford it. We have previously written about how patent thickets block access to more affordable generic drugs, especially in Humira's case. The
At Long Last: A Promising First Step Toward Reducing Drug Prices
This morning, Health and Human Services Secretary Alex Azar gave a speech at the Brookings Institution about the administration's plan to reduce drug prices for drug covered by Part B of Medicare. While this is long overdue, does not affect Medicare Part D, pharmacy benefit managers (PBMs), or many other areas, it is a promising first step toward reducing drug prices and helping consumers. In his remarks, Secretary Azar told the crowd that this was a long overdue reform for M
How Patent Thickets Block More Affordable Drugs: The Case of Humira
The drug manufacturer AbbieVie Inc. has thrown up a formidable shield of patents around its drug Humira, preventing cheaper versions of the medicine from coming to market. This patent abuse should not be allowed to stand, and Congress, the Department of Health and Human Services, and the Food and Drug Administration should stop this manipulation and enact reforms to combat further abuses. Humira has been around for over fifteen years and is one of the world's best selling dru
New York Considering Blocking Merger of Aetna and CVS
Recently on October 10th, the Department of Justice approved the proposed merger of the health insurance company Aetna and the drugstore chain and pharmacy benefit manager CVS (PBM). However the approval is dependent on Aetna divesting its Medicare Part D business, which covers prescription drugs for seniors. And the transaction is not out of the woods yet. New York is debating whether to block sections of the merger-an excellent idea that help protect consumers and reduce th
NY Department of Financial Services Hearing on CVS/Aetna Merger
Maria Vullo, the New York State Superintendent of Financial Services had a pro-consumer tone. She said she has a duty to protect consumers; the NYDFS has specific approval authority with regard to the CVS/AET transaction; and the DOJ approval of the deal took “a very myopic view” and failed to address vertical concerns. She said that there is no question that this transaction would have a significant impact on New York. Vullo expressed concerns regarding the deal’s impact o
Bipartisan Drug Pricing Reform
Senators Susan Collins (R-Maine), Claire McCaskill (D-Missouri), and Debbie Stabenow (D-Michigan) championed the “Patient Right to Know Drug Prices Act” and “The Know the Lower Price Act.” The Patient Right to Know Drug Price Act bans the use of gag-clauses by pharmaceutical companies and PBMs used to keep pharmacists from advising their patients to lower priced options. The cost of healthcare has been on a disturbing upward trend and any business practice restricting peoples
President Trump Signs Bills to Lower Cost of Drugs
This afternoon, President Trump signed two bipartisan bills into law today intended to lower patients’ prescription costs: Know the Lowest Price Act of 2018 (S. 2553) and the Patient Right to Know Drug Prices Act (S. 2554). The bills prohibit health insurers and pharmacy benefit managers ("PBMs") from including so-called “gag clauses” in contracts with pharmacies. The clauses ban pharmacists from notifying patients when they could pay less for medicines without using their he
United States-Mexico-Canada Agreement (USMCA)
On Sunday, the US, Canada, and Mexico replaced NAFTA with the United States-Mexico-Canada Agreement (USMCA) after over a year of talks. President Trump had promised to renegotiate the agreement, and so the new agreement includes major changes. These changes range from auto manufacturing tariffs, new labor policies, environmental standards, intellectual property protections, and some digital trade protections. Relevant to the healthcare market is the extension of exclusivity r
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