Senator Tina Smith Introduces Bipartisan Bill to Lower Insulin Costs
Fifteen years ago patients with diabetes would have paid about $175 for a 20-milileter long vial of insulin. Today they have to pay $1,500 for the same amount! Insulin prices are skyrocketing, forcing diabetes patients to choose between basic necessities and the medicine that will keep them alive. Recognizing this crisis, Senator Tina Smith (D-MN) has just introduced the Emergency Access to Insulin Act, which will reduce insulin costs. This outrage is personal for Senator Smi
Consumer Groups Submit Brief Opposing CVS-Aetna Merger, Saying Final Judgment Is Totally Inadequate
On Friday, June 21st, respected antitrust lawyers David Balto and Andre Barlow submitted a brief opposing the CVS-Aetna merger on behalf of the consumer groups Consumer Action and U.S. PIRG. In the brief, they lay out how the merger will harm consumers, lead to increased concentration and greatly harm competition, and lower healthcare quality and access. They also show how the Department of Justice's (DOJ) proposed final judgment is completely inadequate for protect consumers
Maine Governor Signs Bill Regulating PBMs, Requiring Rebates Be Passed On to Consumers
Yesterday, Maine Democratic Governor Janet Mills signed four bills into law aimed at lowering prescription drug prices. This is encouraging news for those working to reduce lower drug costs. One of these bills, LD 1504, is especially significant-it regulates pharmacy benefit managers (PBMs) and requires that the rebates they extract from drug manufacturers be passed on to consumers. Its passage is a substantial victory for consumers. The bill was sponsored by Senator Heather
Senate Aging Committee's Third Hearing on Drug Prices Is Full of Anger and Determination
This morning the Senate Special Committee on Aging held its third hearing on rising prescription drug prices and how to reduce them. The hearing was marked by anger and frustration from the Senators, and a strong determination to take sweeping measures to lower the cost of medicines. Senator Susan Collins (R-ME) chaired the hearing and said, "the American people are clamoring for action." She was pleased that the House and Senate were acting on a number of proposals, includin
Recent Draft Proposal Would Expand Patent Power and Harm Consumers and Innovation
Rising prescription drug prices are a major problem for Americans to the point where people are forced to choose between their medicines and basic necessities such as food and housing. One of the root causes of this crisis is patent abuse-when drug companies manipulate and find loopholes in our patent system to prolong their monopolies and keep prices high. Congress is considering many bills to curb these abuses. Unfortunately, one recent draft proposal would make matters wor
Senate Judiciary Committee Will Markup Drug Pricing Bills This Month
The Senate Judiciary Committee is planning a markup of legislation to lower prescription drug prices later this month. In an interview with the Hill, Senator Lindsey Graham (R-SC) confirmed this and said that bills in the Senate Judiciary Committee could be combined with bills from other committees to go to the Senate floor for a vote. Senator Chuck Grassley (R-IA), who chairs the Senate Finance Committee, and Senator Ron Wyden (D-OR), the Committee's ranking member, are work
Senate Judiciary Committee Holds First Hearing on Vertical Consolidation and Competition in Healthca
Yesterday the Senate Judiciary Committee's Subcommittee on Antitrust, Competition Policy, and Consumer Rights held its first hearing on vertical consolidation in the healthcare industry, and its effects on competition and consumers. Vertical integration is the combination in one company of two or more stages of production normally operated by separate companies, such as when a health insurance company is combined with a pharmacy benefit manager (PBM), or a hospital acquires p
Federal Judge Is Wary of CVS-Aetna Merger at Two-Day Hearing
Last week. Judge Richard Leon of the District Court for the District of Columbia held a hearing on the CVS-Aetna merger. During a two day hearing, Leon heard from critics and supporters of the transaction and expressed skepticism about the Department of Justice's approval of the merger and whether it would benefit consumers and competition. The judge concluded by setting another hearing with oral arguments that will likely take place in mid July. The merger of the pharmacy an
