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…
Search results for: drug pricing
U.S. Could File Charges in Generic Drug Probe by Year-End
(Reuters)—U.S. prosecutors could file the first charges in their criminal investigation of generic drugmakers over suspected price collusion by the end of the year, Bloomberg reports. The antitrust investigation by the U.S. Department of Justice (DOJ) spans more than a dozen companies and about two dozen drugs, Bloomberg reports, citing people familiar with the matter….
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…
Can Anything Contain Drug Costs in the U.S.?
(Reuters Health)—The U.S., which spends more on drugs than any other country, might contain costs by limiting market exclusivity for brand name medicines and changing coverage requirements for government health plans, some doctors argue. Although brand-name drugs account for only 10% of all dispensed prescriptions in the U.S., they make up 72% of drug spending,…
Rheumatology Drug Updates: Etanercept for Pediatric Plaque Psoriasis
Etanercept Submitted for Chronic, Severe Plaque Psoriasis in Children The U.S. Food and Drug Administration (FDA) has accepted the supplemental Biologics License Application for etanercept (Enbrel) for treating pediatric patients with chronic, severe plaque psoriasis.1 The application was submitted in early January 2016 and is based on results of a one-year Phase 3 study with…
U.S. Probes Contracts Between Drugmakers, Pharmacy Benefit Managers
(Reuters)—The U.S. Attorney’s Office for the Southern District of New York is investigating contracts between drugmakers and companies that manage prescription benefits, according to regulatory filings. Federal prosecutors have approached at least three companies, including Johnson & Johnson, Merck & Co. and Endo International Plc., demanding information about their contracts with pharmacy benefit managers. Pharmacy…
Major Drugmakers Push Back in U.S. Price Debate
SAN FRANCISCO (Reuters)—With a backlash brewing over the price of medicines in the U.S., drugmakers are pushing back with a new message: Most people don’t pay retail. Top executives from Eli Lilly and Co, Merck & Co and Biogen Inc. said in interviews with Reuters this week that the media focus on retail, or “list…
Anthem Targets $3 Billion in Drug Cost Cavings with Express Scripts
(Reuters)—Anthem Inc. could save $3 billion annually on drug costs from a re-pricing provision in its current contract with pharmacy benefits manager Express Scripts Holding Co, the health insurer’s chief executive officer said Tuesday. Anthem said it is working to renegotiate the contract this year to avoid overpaying for pharmaceuticals based on current market conditions….
Smarter Regulation Can Help Cut Drug Prices, Says EU Agency Head
LONDON (Reuters)—Europe’s top drug regulator weighed into the medicine pricing debate on Wednesday, arguing a smarter and faster pharmaceutical approval system was needed to help rein in the spiraling cost of new treatments. In exchange for speeding up the approval process, society would expect manufacturers to charge less for innovative medicines, European Medicines Agency (EMA)…
U.S. Drug Benefit Managers Clamp Down on Specialty Pharmacies
NEW YORK/LOS ANGELES (Reuters)—In recent days, the largest U.S. managers of private prescription drug benefits have cut off at least eight pharmacies that work closely with drugmakers, intensifying scrutiny of a system that helps inflate drug prices, officials at the benefit managers told Reuters. The terminations come from payers who together manage drug benefits for…
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