(Reuters)—U.S. employers are bracing for higher health care expenses in 2018 as spending on new drugs to treat diseases, such as cancer, multiple sclerosis and hepatitis C, is expected to rise more than 7%, according to consultancy firm Mercer.1 Between 40 and 50 new specialty drugs are set to hit the market each year in…
Search results for: prescription drug prices
Drug Industry on Tenterhooks as Maryland Price-Gouging Law Nears
(Reuters)—As U.S. consumer outrage grows over prescription drug prices, state authorities and patient advocates in Maryland are preparing to enforce the nation’s first law designed to punish drugmaker price-gouging. The Maryland Attorney General’s office said it will field complaints and investigate “unconscionable increases” in essential generic medicines when the closely watched law takes effect Oct….
U.S. House Panel Spotlights Use of FDA Rules to Slow Generic Drugs
WASHINGTON (Reuters)—Republican and Democratic lawmakers on Thursday discussed ways to prevent drugmakers from using rules developed to safeguard patients to instead block the sale of cheaper medicines. The focus at a hearing, held by members of the House Judiciary Committee’s antitrust subcommittee, was on the use by some brand name drug companies of a U.S….
As Drug Prices Drop, Generics Makers Fight Back with Deals
NEW YORK (Reuters)—Generic drug makers are turning to mergers and acquisitions to shield themselves against a concerted effort by U.S. regulators to crack down on steep drug prices. Impax Laboratories Inc, Perrigo Company Plc and Alvogen Inc have been talking to advisers about strategic options for their generics businesses, ranging from acquisitions to increase scale…
The Birth and Growth of Biotechnology, and the Impact of Biologic Drugs on Rheumatology
Here’s a trivia question: Where were the big ideas for the field of biotechnology first discussed? Answer: At a since-demolished delicatessen in Waikiki Beach, Hawaii. Go figure. The year was 1972, and Stanley Cohen, MD, professor of medicine at Stanford University in Palo Alto, Calif., and Herbert Boyer, PhD, a former professor and biochemist at the…
U.S. Supreme Court Speeds Copycat Biologic Drugs to Market
WASHINGTON (Reuters)—The U.S. Supreme Court on Monday cut the time it will take for copycat versions of biologic drugs to get to the market in a pivotal ruling about an expensive class of medicines that can yield billions of dollars in sales for drug companies. The justices, in a 9–0 ruling, overturned a lower court…
Maryland Lawmakers Approve Bill to Fight Drug Price-Gouging
WASHINGTON (Reuters)—Maryland lawmakers have passed a first-in-the-nation measure that lets the state attorney general sue generic drugmakers that sharply raise prices in a move aimed at fighting what legislators call “price-gouging.” The bill overwhelmingly was approved by the Democratic-controlled legislature on Monday and hailed by Maryland Attorney General Brian Frosh as a way to check…
U.S. Democrats Seek Trump’s Cooperation on Drug Price Reform
NEW YORK (Reuters)—A group of Democratic senators took their plans to tackle rising drug costs to President-Elect Donald Trump on Tuesday, asking him to work with them and Republicans on the issue. In a letter dated Tuesday, the 19 senators named five areas for cooperation: allowing the Medicare program to negotiate prescription prices, increasing transparency,…
Japan PM’s Advisers Urge Annual Review of Drug Prices
TOKYO (Reuters)—Prime Minister Shinzo Abe’s economic advisers, hoping to curb Japan’s ballooning healthcare costs, proposed on Wednesday reforms to the way drug prices are set, a step opposed by foreign and domestic drug makers who say the changes will stifle investment. The proposals follow a decision to halve the price of Bristol Myers Squibb Co’s…
Possible Impact of Biosimilar Infliximab on U.S. Market in Prescriptions, Pricing
The use of biosimilars for rheumatology in the U.S. became a reality when the U.S. Food and Drug Administration (FDA) approved Inflectra (infliximab-dyyb), a biosimilar to Remicade (infliximab), in April. What this may mean is increased competition among drug companies with regard to pricing and, therefore, potentially lower costs for U.S. patients, according to Seoyoung…
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