Drug Prices

Karl Marx famously said that history repeats itself first as tragedy, then as farce. Vice President Kamala Harris is bringing that aphorism to life by putting price controls at the center of her economic agenda. Despite centuries of evidence that such controls invariably lead to shortages, rationing and general economic ...

Biosimilars Often Reduce Prices by 50 Percent or More By Wayne Winegarden  | October 1, 2024 READ PDF Executive Summary In the competitive biologic markets, biosimilars have reduced average prices by 56 percent. The lower prices have reduced total expenditures by 51 percent in the competitive biologic markets even though ...

Last week, a House subcommittee held a hearing on pharmacy benefit managers and their impact on the prices patients pay for prescription drugs. The hearing speaks to voters’ concerns. Republicans and Democrats alike have identified the cost of prescription drugs as their No. 2 health care concern, according to polling ...

Fortunately, that’s starting to change. In recent months, drug companies Pfizer and Eli Lilly have begun rolling out direct-to-consumer programs that let patients purchase basic prescriptions remotely. This development is a huge win for patients. Not only are direct-to-consumer offerings more convenient. They can also provide a jolt of competition ...

The intended consequence of the policy is to reduce overall spending on drugs, but all regulations have unintended consequences, too. While these consequences may be unintended, they need not be unexpected. In the case of the IRA, these unintended impacts now threaten to undermine the entire purpose of the policy. ...

That may sound like standard progressive fare. But the means by which she’d try to achieve those goals is a scheme of price controls that could destroy entire sectors of the U.S. economy. Read the full article at Forbes

The plaintiffs say they’re fighting for patients. They’re less forthcoming about the fact that they’ve profited handsomely from the system they’re now decrying. For years, these cities and states have insisted on a cut—if not all—of the rebates that these pharmacy benefit managers extract from drug makers when negotiating over ...