DawgTalkers.net Forums DawgTalk Palus Politicus 879% drug price hike is one of 3,400 in 2019 so far; rate of hikes increasing

879% drug price hike is one of 3,400 in 2019 so far; rate of hikes increasing

Despite public and political pressure, pharma keeps on ratcheting up prices.

Pharmaceutical companies raised the prices of more than 3,400 drugs in the first half of 2019, surpassing the number of drug hikes they imposed during the same period last year, according to an analysis first reported by NBC News.

The average price increase per drug was 10.5%, a rate around five times that of inflation. About 40 of the drugs saw triple-digit increases. That includes a generic version of the antidepressant Prozac, which saw a price increase of 879%.

The surge in price hikes comes amid ongoing public and political pressure to drag down the sky-rocketing price of drugs and healthcare costs overall. In May of 2018, President Trump boldly announced that drug companies would unveil “voluntary massive drops in prices” within weeks. But no such drops were ever announced. Trump then went on to publicly shame Pfizer for continuing to raise drug prices. The company responded with a short-lived pause on drug price increases mid-way through last year, but it resumed increasing prices in January—as did dozens of other pharmaceutical companies.

"Requests and public shaming haven't worked," Michael Rea, chief executive of RX Savings Solutions, told Reuters last December. His company helps health plans and employers seek lower-cost prescription medicines. It also conducted the new analysis on drug prices.

In December, Rea predicted that the number of 2019 increases would be even greater than in past years. It appears he is correct.

The more than 3,400 drug price increases in the first half of 2019 is a 17% increase over the number of drug price hikes in the first half of 2018. In addition to the Prozac generic, the drugs that saw triple-digit increases included the topical steroid Mometasone, which had a price increase of 381%. A pain reliever and cough medication (Promethazine/Codeine) saw a 326% hike while the ADHD treatment Guanfacine 2mg saw its price rise 118%.

In May, the Trump administration finalized a rule that will require drug companies to include drug list prices in television advertisements. The rule is slated to go into effect sometime this summer.

https://arstechnica.com/science/2019/07/...as-high-as-879/

Hey Willie, I thought Trump said prices were coming down?

But trump said he fixed the issue.

Big pharma wants to control weed too...

They can certainly try. The beautiful thing about that is unlike pills, I can just grow my own weed.

Not when the corporate stormtroopers kick in your door... just saying.

So you're attacking the fee market system? You must be a communist.

I’ll be fine.

Fixed it for ya!

For God's sake, Pfizer ONLY made $4 billion per quarter last year in profit and their CEO only made $27 million ... people have to eat....

Seriously, I can't tell what they are trying to accomplish... either they sense healthcare is going to turn and they are bilking the last billions they can get out of it before it does.... or they actually want it to turn and they are doing everything they can think of to push us in that direction...

Hell im high right now. Trump supporting boy bout to come through and we’re gonna hit the bong while arguing about politics.

We need to do that someday.

I’d be down, but you gotta promise not to have a heart attack when this dank hits you.

I'm a lightweight these days so I don't know bro... I might catch a contact buzz just shaking your hand.

For y'all who are over 50 and members of AARP I hope you sent your letters in that AARP was nice enough to send you.

Any particular strain you have in mind to moon over ?

My question to the congregation, are these rare earth elements? Is this why medicine is so expensive?

The answer is no. If I were President, I would lay waste to the pharmaceutical industry. You can’t be a superpower, if you can’t provide your people with health care.

I’m into the skittles flavor of hybrid dank oil these days. Trying to quit smoking it. Vape high seems to work better for me.

LOL..AARP is owned and operated by United Healthcare who Is the biggest and dirtiest hog in the pig pen.

I enjoy hitting a vape pen occasionally. Same with taking dab hits. In general I prefer imbibing flower. Within my peer circle it’s, for all intents and purposes, free. I haven’t paid for flower in years.

j/c

Caravan of Americans battling diabetes heads to Canada for affordable insulin

The high price of insulin across the country is forcing some families with type 1 diabetes to go north to buy the medication. From 2012 to 2016, the price of insulin nearly doubled in the U.S. — and last weekend, about a dozen people took a bus 817 miles from Minneapolis, Minnesota, to London, Ontario, to buy the life-saving drug.

"For us, insulin is like air — it's like oxygen, we need it," said Deb Souther, who has lived with Type 1 diabetes for 46 years.

Souther says she uses three vials of insulin a month. Even with insurance, she's paying more than $700 a month for medicine she can't live without. "It is very very worrisome, even with insurance, if you only have one vial or two vials sitting in your refrigerator," she said.

A lot of people on the bus traveled more than 800 miles. But for them, it's not about the miles — it's about the message. That's why they drove all the way to London, Ontario, where insulin was developed nearly a century ago.

"Getting diagnosed today in 2019 in America with type 1 diabetes — it is a death sentence for some people," said Quinn Nystrom, who coordinated the trip. This is the second caravan to Canada in the last two months. In the U.S., one vial of the drug costs $340, Nystrom said — but in Canada, it's just $30.

"It's because I bought it in Canada," she said. "That's the only difference."

Insulin is cheaper in Canada primarily because the country has public health care, so the government negotiates pricing with drug companies and caps prices. In the U.S., drug makers negotiate individually with private insurance companies and the uninsured pay list price. Approximately 7.5 million Americans rely on insulin to stay alive. The drug is largely supplied by three companies, who all offer patient assistance programs.

Novo Nordisk, one of those three companies, told CBS News in a statement that "we recognize that our healthcare system is broken ... we know more must be done to ensure insulin affordability and we are committed to being part of the solution."



Some states are taking their own steps to lower the cost. Florida passed a law that would allow large batches of drugs to be legally imported from Canada into the state, and Colorado capped insulin costs at $100 dollars per monthly supply.

Nystrom believes the issue shouldn't be politically divisive. "There's Republicans who are diabetics, there's Democrats who are diabetics and all of us struggle to afford insulin ..." she said. "To me this is a human rights issue."

Nystrom says she's lucky to be able to make the trip, because many people couldn't afford to miss work.

"Coming to Canada is not a long-term solution," she said. "Coming to Canada is putting a Band-Aid on a gunshot wound."

https://www.cbsnews.com/news/insulin-caravan-battling-high-drug-prices-in-the-us-diabetes/

Damn socialist Canadians and their not for profit medicine!! How are these drug company executives supposed to buy helicopters for their second yachts?!
My guess is they’ll lobby for rules to stop these states from circumnavigating their profit margins. Capitalism must be upheld!!

Our health system is broken and it needs to be fixed... private companies have had enough time to voluntarily fix it. They haven't.

That said, 12 people on a bus isn't a caravan... not to be confused with the thousands marching through Mexico toward our concentration camps...

Well my point was actually about the cost of prescription drugs and how affordable they could actually be.

I do agree the word "caravan" was certainly sensationalizing the situation. The problem is you can't really find an article that doesn't do that from either side anymore.

I know, that's why I addressed that first... I also appreciate Novo Nordisc acknowledging that things are broken, but they are a major player in the market. If they want to fix it, what are they waiting for?

Most pharma companies offer some type of discount cards and other ways to make their meds more affordable... but it's a lot for folks, especially elderly folks, to keep up with or to even know is available. It shouldn't have to be that complicated that you pay one really large price if you are in the hospital, a second reduced price if you are on long term care, an even more affordable price if you know about some special deal or promotion.... these are meds, they are important to the people who need them, everybody knows you need to make some profit to stay in business and continue research... just make it freakin' simple.

Lets keep it real. This is a problem that Congress has refused to deal with because Big Pharma pays them not to. Its a symbiotic buddy system.

If our Government wasnt so corrupt, this problem wouldnt exist. And it has nothing to do with "sides". They are ALL corrupt because that is how business is done in DC.

I am not disagreeing with you... this is a problem that remains unfixed, in large part, because neither side of the political aisle wants the other to receive the credit. Both sides know how to fix it, neither will. This really is the poster-child issue for how bad partisan politics has become.

Whatever.

Maybe try voting for the side that wants to get it done! Bernie 2020!

Facts dont lie. Congress is corrupt as hell and Big Pharma is the puppeteer.

https://www.opensecrets.org/industries/lobbying.php?cycle=2018&ind=H04

Or maybe the media is the puppeteer.

https://www.opensecrets.org/industries/lobbying.php?cycle=2016&ind=B

SHAME

https://www.opensecrets.org/industries/recips.php?cycle=2016&ind=B

https://www.opensecrets.org/industries/summary.php?cycle=2016&ind=B

That website is so fascinating.

Follow the money.

But when Dems wanted to get it done under Obama, wasn't one of their big talking points, "I don't know why republicans are so against this, look at these examples of them already doing it in states, etc."

Yea, vape is much better for your lungs. I "hear" GDP is the bees knees but I also enjoy a Mimosa or two (or three)

Just like anthropogenic climate change, this should not be an issue divided amongst political lines. This is a moral issue.

Hey you forgot to say "Once upon a time" before you started your fairy tale.