(Reuters)—Kentucky Attorney General Andy Beshear said on Thursday he had launched an investigation into allegations that pharmacy benefit managers (PBMs) had overcharged state health insurance programs for drugs and discriminated against independent pharmacies. The investigation comes against the backdrop of widespread criticism of rising costs of prescription medicines in the United States, with PBMs, middlemen…
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Ohio Accuses UnitedHealth’s OptumRx of Drug Overcharges
(Reuters)—Ohio’s attorney general on Monday said he had filed a lawsuit against UnitedHealth Group Inc’s OptumRx unit, saying the pharmacy benefit manager had overcharged the state nearly $16 million for prescription drugs. Ohio Attorney General Dave Yost’s lawsuit followed a probe into the extent pharmacy benefit managers (PBMs) like OptumRx had engaged in pricing practices…
U.S. Senators Tell Drug Company Execs Pricing Is Morally Repugnant
WASHINGTON/NEW YORK (Reuters)—U.S. Senators called drug pricing practices “morally repugnant” and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at the start of a Senate hearing on the rising costs of prescription medicines. Executives from Abbvie Inc., AstraZeneca PLC., Sanofi SA, Pfizer…
Eli Lilly Backs U.S. Proposal on Drug Rebates to Lower Costs
(Reuters)—Eli Lilly and Co. on Wednesday embraced a U.S. government proposal to end a decades-old system of rebates drugmakers make to industry middlemen, saying it could lower the cost of insulin and other prescription drugs for patients. Lilly, along with other major insulin makers, Sanofi SA and Novo Nordisk, has been under mounting pressure from…
U.S. Government Proposes Rule Overhauling Drug Industry Rebate System
NEW YORK (Reuters)—The U.S. government proposed a rule to end the industry-wide system of after-market discounts called rebates that pharmacy benefit managers receive from drugmakers, a practice that has been under scrutiny. If finalized, the rule would change a system that has been in place for decades and that increasingly has been criticized for obfuscating…
Not-for-Profit to Offer 20 Generic Drugs in 2019 to Alleviate Shortages
(Reuters)—A new not-for-profit supplier of generic drugs formed by a consortium of hospitals systems said it expects this year to be able to provide about 20 products to alleviate shortages of medicines used during surgeries and to treat life-threatening conditions, such as septic shock. Since the start-up of Civica Rx spearheaded by Intermountain Healthcare was…
Medicare Changes Could Have Some Patients Paying More for Drugs
(Reuters Health)—A proposed shift in Medicare coverage for medicines administered by doctors may help reduce total drug spending, but a new study suggests it may also lead to higher out-of-pocket costs for some patients. Right now, drugs given by infusion or injection in outpatient settings are covered by Medicare Part B, which is part of…
U.S. Lawmaker Launches Investigation into Pharma Drug Pricing
WASHINGTON (Reuters)—A top U.S. lawmaker has launched an investigation into pharmaceutical industry pricing practices, less than a week after he and fellow Democrats introduced legislation aimed at lowering medicine prices. Rep. Elijah Cummings (D-Md.), who chairs the U.S. House Oversight Committee, sent letters to 12 drug makers seeking information on price increases, investment in research…
Senate Democrats Introduce Bill to Allow Government to Block Drug Price Rises
WASHINGTON (Reuters)—Four Democratic U.S. senators introduced a bill on Thursday that would allow the government to block drug price increases that it decides are unjustified. The bill sponsored by Senators Richard Blumenthal, Kamala Harris, Amy Klobuchar and Jeff Merkley, all Democrats, would allow the Department of Health and Human Services to prohibit drug price increases…
CMS Proposes New Part B Drug Payment Model
Late last month, the Centers for Medicare & Medicaid Services (CMS) released an advance notice of proposed rulemaking (ANPRM), seeking feedback on a potential drug pricing model called the International Pricing Index (IPI) model. This comment solicitation is in alignment with the administration’s blueprint to lower drug costs and reduce out-of-pocket costs, and is an…
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