(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,…
Search results for: prescription drug prices
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…
Pfizer Hikes U.S. Prices for More Than 100 Drugs on Jan. 1
(Reuters)—Pfizer Inc., which plans a $160-billion merger with Ireland-based Allergan Plc to slash its U.S. tax bill, on Jan. 1 raised U.S. prices for more than 100 of its drugs, some by as much as 20%, according to statistics compiled by global information services company Wolters Kluwer. Pfizer confirmed a 9.4% increase for heavily advertised…
U.S. Doctor Group Calls for Ban on Drug Advertising to Consumers
(Reuters)—The American Medical Association on Tuesday called for a ban on advertising prescription drugs and medical devices directly to consumers, saying the ads drive patients to demand expensive treatments over less costly ones that are also effective. The influential doctors’ group said the new policy reflects physicians’ concerns that marketing spending on a proliferation of…
Obama Nominee to Lead FDA Defends Drug Industry Ties
(Reuters)—President Barack Obama’s nominee to head the U.S. Food and Drug Administration defended his ties to the pharmaceutical industry on Tuesday during a Senate committee hearing that included questions on soaring drug prices. Presidential candidate Bernie Sanders was among the Democrats who grilled Dr. Robert Califf (64), who joined the FDA in January as a…
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…
Signatures to Be Filed for California Drug Price Referendum
SACRAMENTO, Calif. (Reuters)—Backers of a referendum aimed at reducing the cost of prescription drugs in California said Wednesday that they had gathered more than enough signatures to place their measure on the November 2016 ballot in the most populous U.S. state. The measure by the AIDS Healthcare Foundation would require the state to pay no…
Transatlantic Divide: How U.S. Pays Three Times More for Drugs
LONDON (Reuters)—U.S. prices for the world’s 20 top-selling medicines are, on average, three times higher than in Britain, according to an analysis carried out for Reuters. The finding underscores a transatlantic gulf between the price of treatments for a range of diseases and follows demands for lower drug costs in America from industry critics such…
Unwelcome News about Medicare’s Rising Drug Plan Costs
CHICAGO (Reuters)—Seniors have received some unpleasant news in their mailboxes in recent weeks: premiums for many Medicare prescription drug insurance plans will rise at double-digit rates next year. Premiums for the ten most popular Medicare Part D prescription drug plans (PDPs) will rise an average of 8 percent next year—the fastest clip in five years,…
China Gets Tougher for Western Drugmakers
LONDON (Reuters)—The Chinese market is getting tougher for Western pharmaceutical companies as Beijing bears down on a rising healthcare bill and prices come under pressure. The country, which has overtaken Japan as the world’s second largest market for prescription medicines after the U.S., has drawn major investment from global drugmakers in recent years — but…
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