Prices jump 5% for 2022 on more than 450 prescription drugs
A report by Stat shows drug prices for some products jumped a median of 5% from 2021 figures, in line with recent year-end increases. In other news, the Centers for Medicare & Medicaid Services is shedding a Trump-era policy that sets drug prices relative to other wealthy nations.
Statistic: Drugmakers ring in the new year with 5% price hikes
Heading into 2022, pharmaceutical companies have so far raised wholesale prices by a median of 4.9% on more than 450 prescription drugs, an overall annual increase comparable to price increases seen over the past few years. three years, according to a new analysis. . The numbers are preliminary, however, as more price increases are expected to be disclosed by drugmakers later this month, as not all companies have reported their latest prices to industry databases. Nonetheless, early indications are that many drugmakers are controlling price increases due to continued bad publicity that has generated sustained political pressure. (Silverman, 1/3)
Axios: Gilead and Pfizer among drugmakers raising prices in 2022
Pharmaceutical companies raised the prices of hundreds of drugs on January 1, with most prices increasing by 5-6% on average. The start of the new year is the most popular time for drug companies to raise prices, and while high drug prices remain one of the biggest political health issues, increases in 2022 follow those of others. recent years. (Hermann, 1/4)
In other pharma news —
Modern Healthcare: CMS Officially Launches Most Favored Nation Drug Payment Model
The Centers for Medicare and Medicaid Services have officially rejected a Trump-era policy that would have prevented Medicare from paying more for certain outpatient drugs than the lowest price paid by other wealthy countries, according to a final rule released last week. . All but one of the 34 commenters on the proposed rule supported overturning the policy, according to CMS. “We will continue to carefully consider this commenter’s feedback and the feedback we have received from other stakeholders as we explore all options to incorporate value into Medicare Part B drug payments, improve beneficiary access to evidence-based care and reduce drug expenditures for consumers and across the healthcare system,” the final rule said.(Goldman, 1/3)
Stat: HHS appeals drug rebate program decisions, just as AbbVie latest to cut rebates
A heated clash over a US government drug rebate program has escalated after a federal agency appealed several recent court rulings that challenged its approach to enforcing a decades-old initiative. decades. At the same time, AbbVie has become the latest of a growing number of companies to restrict its discounts, adding to the disarray around a program that provides a safety net for low-income patients. In a series of filings made last week, the US Department of Health and Human Services appealed rulings by various federal courts that, to varying degrees, raised concerns about the agency’s power to administer its interpretation of the 340B drug rebate program. Some of the rulings, however, also chastised drugmakers for taking unilateral action to deny discounts. (Silverman, 1/3)
Axios: Scoop: Novo Buys Medical Knowledge Group at $1.15 Billion Valuation
Novo Holdings won the bid for Medical Knowledge Group, which provides marketing services to pharmaceutical companies, with an enterprise value of $1.15 billion, four sources told Axios. The drug therapies developed today are increasingly aimed at smaller patient populations, which can complicate commercialization. If you have a real data analytics company like MKG, or a tech-based strategy, investors have no problem paying a premium. (Pringle, 1/3)
As well –
Bay Area News Group: Keanu Reeves donated 70% of ‘Matrix’ salary to cancer research
While Keanu Reeves’ new installment in ‘The Matrix’ franchise wasn’t quite the blockbuster Warner Bros. hoped, a new report shows the actor is still receiving accolades for being one of the hottest celebrities. most decent and beloved in Hollywood. The new report, from Lad Bible, says the 57-year-old “Resurrections” actor has donated up to 70% of his salary from the original “Martrix” film to cancer research. The New York Post added that Reeves was said to have received a $10 million upfront for the groundbreaking 1999 sci-fi film, before earning another $35 million when the film became a box office blockbuster. Seventy percent of that revenue means $31.6 went to leukemia research. (Ross, 1/3)
Stat: Texas is trying to create the next research triangle for biotechnology. Will it work?
Do you live in a city vying to be the country’s next biotech hub? Get in line. In recent years, the Berkshires, Salt Lake City and even Rochester, Minnesota, among others, have fought for the designation. Today, however, three cities in Texas – Austin, Dallas and Houston – are combining their resources in an effort to create an innovation triangle, hoping to succeed where others have failed. Backers say the difference is a dose of Texas-sized ambition. (Bender, 1/4)
Statistic: Covid-19 politics force state lawmakers to think about drug campaign money
Ohio State Rep. Beth Liston had previously accepted campaign donations from Pfizer, but this time the check in her mailbox gave her pause. Debates over Covid-19 vaccination policy have stirred state legislatures across the country, including in Ohio. Video footage of a doctor warning state lawmakers that vaccines magnetize people went viral over the summer, and Liston, herself a doctor, took it upon herself to be the public face discrediting the conspiracy theory. Liston is a Democrat and she is a strong advocate for vaccination. She never thought to accept a few hundred dollars from drugmakers, but this year she returned a $300 check from Pfizer and a $250 check from Johnson & Johnson to preemptively avoid questions about her intentions. (Cohr, 1/4)
Stat: FDA’s Peter Marks on Covid-19, priorities and gene, cell therapy reviews
No part of the Food and Drug Administration has been challenged by the pandemic quite like the Center for Biologics Evaluation and Research and its Office of Vaccines Research and Review. Now, this center, which has suspended part of its work to examine requests for vaccines against Covid-19 at record speed, faces a new challenge: to return to normal. (Florko, 1/4)
This is part of the KHN Morning Briefing, a summary of health policy coverage from major news outlets. Sign up for an email subscription.