Drug prices are still going through the roof Since President Trump came into office in January 2017, pharmaceutical companies have hiked the prices of hundreds of drugs at rates that significantly outstrip inflation, according to an analysis conducted by Pharmacy Benefits Consultants. Twenty prescription drugs saw their prices rise by more than 200% in the past 14 months. Between the lines: The pharmaceutical industry has not changed its pricing practices, despite the Trump administration's rhetoric about cracking down on high drug prices. Show less Keep reading298 WORDS The details: The consulting firm's analysis covers changes in the average wholesale prices of hundreds of drugs in the 14month period from January 2017
to March 2018. The firm looked at average wholesale prices instead of wholesale acquisition costs because most pharmacy benefit contracts have terms based on average wholesale prices, and average wholesale prices are directly related to wholesale acquisition costs. The big one: Syner Der m, a prescription skin cream, had the largest price hike. Phlight Pharma, the maker of SynerDerm, raised the list price by 1,468% over the past 14 months. The runners-up: A total of 39 drugs saw price hikes of at least 100%, although many of them — like anti-venom
extracts — are rarely used and don't cost the health care system much overall. What to watch: High-cost, high-use prescriptions like Humira, Enbrel and Revlimid. AbbVie hiked the price of Humira, the highest-selling drug in the world, by 19% over the 14-month period, and Amgen did the same for Enbrel. Celgene raised the list price of Revlimid by 20%. Opioids: Some of the most well-known painkillers, including Purdue Pharma's OxyContin and Endo Pharmaceuticals' Percocet, had their prices increased by 20% or more.
The impact: These are increases in the drugs' list prices, before rebates and discounts are applied. People with insurance don't pay these full amounts, but price hikes still affect everyone — co-pays and deductibles are often based on drugs' list prices, and uninsured patients can find themselves on the hook for a drug's entire list price. Pharmacy benefit managers that negotiate with drug companies also don't disclose rebate figures, and PBMs are able to keep other rebate-like fees. Go deeper: Ever y dr ug in the analysis. Update: The story has been updated to reflect why the consulting firm analyzed average wholesale prices.
Poll: Americans Aghast Over Drug Costs But Aren’t Holding Their Breath For A Fix The recent school shootings in Florida and Maryland have focused attention on the National Rifle Association’s clout in state and federal lobbying activities. Yet more than the NRA or even Wall Street, it’s the pharmaceutical industry that Americans think has the most muscle when it comes to policymaking. A poll from the Kaiser Family Foundation found that 72 percent of people think the drug industry has too much influence in Washington — outweighing the 69 percent who feel that way about Wall Street or the 52 percent who think the NRA has too much power. Only the large-business community outranked drugmakers. (Kaiser Health News is an editorially independent program of the foundation.) Drug prices are among the few areas of health policy where Americans seem to find
they don’t trust the current administration to fix the problem. Fifty-two percent said lowering drug costs should be the top priority for President Donald Trump and Congress, but only 39 percent said they were confident that a solution would be delivered. “There’s more action happening on the state level; what we are finding is they’re not seeing the same action on the federal level,” said Ashley Kirzinger, a senior survey analyst for KFF’s public opinion and survey consensus. Eighty percent of Americans may be warming to research team. “They’re holding people said they think drug the idea of a national health the president accountable as prices are too high, and both plan, such as the Medicare-for- well as leaders of their own Democrats (65 percent) and all idea advocated by Sen. party.” Republicans (74 percent) agreed Bernie Sanders (I-Vt.). Overall, Overall, at least three-quarters the industry has too much sway 59 percent said they supported of people don’t think Democrats over lawmakers. it, and even more, 75 percent, and Republicans in Congress, as Democrats were far more said they would support it if it well as the Trump likely than Republicans — 73 were one option among an array administration, are doing vs. 21 percent — to say the for Americans to choose. enough to bring costs NRA had too much influence. Americans are far more down….Read More The monthly poll also looked concerned with lowering at views about health care. prescription drug prices, though
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