FTC Approves Bristol-Myers Squibb and Celgene Merger, Two FTC Commissioners Issue Strong Dissents
Last Friday, November 15th, the Federal Trade Commission (FTC) announced its approval of the merger of the two drug companies Bristol-Myers Squibb and Celgene, on the condition that they sell Celgene's drug Otelza, which is used to treat psoriasis, a chronic skin disease caused by an overactive immune system. However, two FTC Commissioner strongly dissented from this decision and criticized the merger. In January 2019, Bristol-Myers Squibb announced it would buy Celgene for $
Legal Challenges to State PBM Laws
This year many state legislatures have enacted laws to regulate pharmacy benefit managers (PBMs) and require increased transparency and accountability from them. However, the PBMs have fought back in court. The Pharmaceutical Care Management Association (PCMA), the trade association representing PBMs, is increasingly bringing lawsuits claiming that these laws are unconstitutional. They are wrong and we urge that state laws regulating PBMs be upheld. PCMA argues that state law
American College of Physicians Calls for Transparency From Pharmacy Benefit Managers
In a new position paper, the American College of Physicians (a national organization with over 154,000 members) called for sweeping reforms concerning pharmacy benefit managers (PBMs) and how they impact drug prices. The paper included three recommendations: 1) increased transparency, standards and regulation of PBMs, and strong oversight and regulation of mergers in the PBM market, 2) requiring health plans to make accurate and understandable information about prescription d
New Report Finds That Employers Are Increasingly Making Employees Pay Higher Prices for Drugs
The Kaiser Family Foundation just released their 2019 Employer Health Benefits Survey, and it contains disturbing news. It concludes that new employer benefit designs are increasingly exposing consumers to the list prices of their drugs, and that they are paying much higher prices. Employers are making their employees bear more of the costs of prescription drug drugs. And as drug prices continue to increase and companies bring more expensive medicines to market, these consume
At Axios Forum, Secretaries and Legislators Push for Measures to Lower Drug Prices
This morning, Axios held a forum in downtown Washington D.C. and prescription drug costs and the latest legislation. During the hour long session, Senator Mike Braun (R-IN), Rep. Jan Schakowsky (D-IL), Senator Ron Wyden (D-OR), and Health and Human Services Secretary Alex Azar reiterated their desire to lower drug prices, and expressed optimism that reforms would pass. Senator Mike Braun spoke first and emphasized the need for all participants-consumers, payors, drug companie
Department of Health and Human Services Sues Gilead for Patent Infringement and Ripping Off Taxpayer
A lot of prescription drug research, development, and innovation is funded by taxpayers through the National Institutes of Health (NIH) and other federal programs. But all too often, the federal government does the hard work, and then companies exploit monopolies to charge incredibly high prices. This happens even though the companies are engaging in price gouging and did not contribute to innovation! Fortunately the government is beginning to take action. In a long overdue c
Florida's Plan to Import More Affordable Drugs Is Moving Forward
This week, Florida legislators heard that plans are moving forward to import more affordable prescription drugs from Canada, and that both the state government and patients will benefit. The Office of Management and Budget (OMB) is currently reviewing a proposal from the Food and Drug Administration (FDA) to allow drugs to be imported in order to reduce costs. Florida's Senate Health Policy Chair Gayle Harrell said that the state government will save $150 million per year by
