LONDON (Reuters)—Pharmaceutical companies cannot depend on ever increasing prices in the U.S. and will need to find a new balance between incentives for innovation and access to medicines, according to the chief executive of GlaxoSmithKline. High drug prices have come under fierce political fire recently in America, the industry’s biggest and most profitable market, with…
Search results for: drug pricing
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…
Biotechs Extend Selloff as Pricing Concerns Intensify
NEW YORK (Reuters)—U.S. biotech shares extended their recent downward spiral on Tuesday as concerns about drug pricing continued to plague the sector while disappointing news from Illumina and other companies added to selling pressure. The Nasdaq Biotechnology index, down 4%, has now fallen about 17% since just before Hillary Clinton, front-runner to be the Democratic nominee…
Drug Industry Must Address Image Problem over Prices
NEW YORK (Reuters)—Teva Pharmaceutical Industries Ltd’s research chief said on Tuesday the drug industry must act responsibly when it comes to pricing medications, given the mounting anger over the high cost of therapies in the U.S. Democratic presidential candidate Hillary Clinton brought new attention to the issue last week, proposing to cap patients’ treatment costs,…
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…
Americans Want Medicare to Help Negotiate Down Drug Prices
NEW YORK (Reuters)—A vast majority of Americans say the Medicare health program for the elderly should be able to negotiate with drug companies to set lower medication prices, a practice currently prohibited by law, according to a survey released on Friday. The poll conducted by the Kaiser Family Foundation found that 87% of people surveyed…
The ACR Advocates for Drug Coverage, Payment Policies to Protect Rheumatology Patients, Practices
Rheumatologists must be adequately compensated for managing patients with complex drug therapies and Medicare beneficiaries need access to biologic treatments
Medicare Switch to ASP Pricing Reduces Part B Spending
The Medicare Payment Advisory Commission (MedPAC) reported to Congress in January that Medicare’s switch to a payment method known as ASP, or Average Sale Price, has reduced spending on drugs in the Medicare Part B program. This system reflects actual market spending, rather than wholesale prices.
Your Invitation Here: Learn How Advocacy Can Help You & Your Practice
Learn how ACR staff and volunteers support the interests of the rheumatology community in public policy efforts related to Medicare reimbursement, step therapy reform, drug pricing, supporting the medical workforce and more.
State Legislative Issues to Watch in 2022
States increasingly take the lead on issues critical to our members and the field of rheumatology, including copay accumulator bans, white bagging restrictions, prior authorization and drug pricing.
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