The Trump administration scrapped a proposal for lowering prescription medicine prices, backing down from a policy that would have required health insurers to pass on billions of dollars in rebates they receive from drugmakers to Medicare patients.
Prices, profits and promotional spend are closely linked. Reduce prices and promotion will plummet. But wait, the Republicans are in control. Accordingly, pharma, its marketing partners and even Wall Street often rest easy, especially when Republicans control Congress and the White House.
Amazon.com has steadily added options for customers to receive the company’s packages including in car trunks, inside home garages and potentially by drone.
Eli Lilly and Co. pulled ahead in a three-way race with Amgen Inc. and Teva Pharmaceutical Industries Ltd. in attracting new patients to a new class of migraine drugs, and seeks to build on that advantage by stressing that the company’s therapy can completely prevent headaches in a small percentage of patients.
Drug distributor McKesson Corp. agreed to pay $37 million to resolve a lawsuit by the state of West Virginia seeking to hold the company responsible for contributing to the opioid epidemic, the state’s attorney general said.
Expectations were high during 2018 for three new migraine drugs hitting the market from Amgen Inc., Eli Lilly and Co. and Teva Pharmaceutical Industries Ltd. Priced around $7,000 each, the drugmakers called them “breakthrough” treatments designed to prevent migraines when taken year-round, and estimated that millions of patients could benefit. But a small group of medical experts who quietly advise U.S. health insurers on new drugs was not impressed, according to a private meeting held at UnitedHealth Group’s OptumRx offices in Chicago that was attended by Reuters.
The pharmaceutical industry’s greatest value lies in the quality of life that its drugs provide – plus the innovative programs that help support adherence and education.
Walgreens Boots Alliance Inc. shares fell 12 percent after the company cut the drug retailer’s 2019 earnings growth forecast and reported lower-than-expected quarterly profit in the face of stubbornly low generic drug prices in a crowded market.
Although biosimilars have not had the immediate uptake in the United States that they have had in Europe, health plans expect these products will become a staple of therapy for some diseases by 2020 – if the price is right.
CVS Health Corp. – a top U.S. manager of pharmacy benefits – added new migraine drugs from Teva Pharmaceutical Industries Ltd. and Eli Lilly and Co. to the PBM’s list of covered drugs, excluding a rival treatment from Amgen Inc.
A group of health insurers, including CVS Health Corp.’s Aetna, have teamed up with IBM Corp. to create a blockchain network aimed at cutting costs in the healthcare industry.