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The advent of the first generic GLP-1 drugs could help Medicare negotiate a lower price for the highly sought after diabetes and obesity medication semaglutide , according to experts familiar with the price-negotiation program and STAT’s review of documents from the first round of negotiations.
The biggest enticement that large pharmacy benefit managers offer to the employers that hire them is drug rebates — a steady stream of money sent back to their clients, a tangible symbol of the discounts that PBMs are able to wrangle out of pharmaceutical companies. Continue to STAT+ to read the full story…
A pharmaceutical company and its chief executive — who once defended Martin Shkreli for raising drugprices to controversial heights — agreed to pay up to $50 million to settle allegations of purposely underpaying Medicaid rebates.
” FDA staff said that data from a late-stage trial of Eisai and Biogen’s Alzheimer’s drug suggests it offered a meaningful benefit to patients and safety concerns likely would not hamper its chances of a traditional approval , Reuters reports. The FDA decision is expected by July 6.
The Federal Trade Commission is widening its probe into pharmacy benefit managers and their impact on drugpricing by looking into a pair of group purchasing organizations that are owned by these industry middlemen, but are not well understood outside the industry.
Also, we see more documents destroyed at an Indian drug manufacturing plant, and offer up a fabulous podcast. Sign up to get our biotech newsletter in your inbox. Good morning! Today, we see Ginkgo pivot into AI, becoming yet another contender in a crowded market. Read the rest…
WASHINGTON — A bipartisan group of senators released a draft of legislation to resolve controversial disputes in the 340B drug discount program, according to documents obtained by STAT.
Congressional investigators sorted through more than 500,000 pages of documents from the Food and Drug Administration and Biogen to chronicle how a controversial Alzheimer’s disease drug was approved, and how it went from what was supposed to be the biggest drug launch in history to a financial catastrophe.
In their filing , which was made in 2019, the groups argued that “unlawful conduct” carried out by Gilead had hurt the public interest, because its prices led the government to ration the Sovaldi medication. Continue to STAT+ to read the full story…
The courts reversed certain key guidance documents issued by the Health Resources and Services Administration for the 340B Program, which raises uncertainty.
The downfall of Aduhelm, the first new treatment for Alzheimer’s disease in two decades, is largely the story of a drug company choosing to maximize its potential profits at the expense of patients and taxpayers, according to a congressional investigation that cites thousands of pages of internal Biogen documents.
Why DrugPrices Are Rising? Newly developed drugs can be expensive to produce. During patent exclusivity, prices are set higher to offset the high research and development cost (up to billions of dollars). Additionally, many middlemen are involved in the drug supply chain , each taking a cut of the profits.
I then document how five multi-billion-dollar, for-profit, publicly traded pharmacy chains and pharmacy benefit managers (PBMs)—Cigna (via Express Scripts), CVS Health, UnitedHealth Group (via OptumRx), and Walgreens, Walmart—continue to dominate the 340B contract pharmacy market.
Ohio, Judge Newman) issued the first substantive order addressing legal challenges to the DrugPrice Negotiation Program of the Inflation Reduction Act. New Complaint by Novo Nordisk Also on Friday, Novo filed a new Complaint challenging the DrugPrice Negotiation Program and CMS’s actions in implementing it.
WASHINGTON — New documents obtained by STAT outline how Medicare is planning to build out a sizable new bureaucratic infrastructure to handle its new power to negotiate drugprices and penalize drugmakers for price hikes.
Kirschenbaum — On May 24, Minnesota enacted the Commerce and Consumer Protection Omnibus Bill, Senate File 2744 ( SF 2744 ), which significantly expands the state’s existing drugpricing activities with serious implications for all drug manufacturers, and particularly generic drug manufacturers.
Regardless of your answer, theres no question the 340B DrugPricing Program remains a critical resource for eligible healthcare providers, enabling them to stretch scarce federal resources to provide essential services to underserved communities. Perform self-audits to proactively identify and address your 340B program gaps.
The Board indicated that a “What We Heard” document will be released in 2024. The deadline for registration in the roundtables is November 24, 2023. The deadline for written submissions in response to the scoping paper is December 20, 2023.
Overall, while the NHC appreciates CMS’ intent to streamline the data submission process and make it more accessible, we encourage ongoing dialogue and adjustments to ensure that the process remains patient-centered, efficient, and capable of capturing the full spectrum of information necessary to inform meaningful drugprice negotiations.
According to GlobalData’s Drugs Database, Rinvoq and Skyrizi combined are projected to reach global analyst consensus forecast sales of more than $21bn by 2028. Bristol Myers Squibb (BMS) documented a 9.1%
You can count on Drug Industry Daily for insightful, accurate articles supported by links to additional key documents, such as FDA guidances and comments, warning letters, full texts of proposed legislation, Federal Register postings, GAO reports and more.
This week, I’m rerunning some popular posts while I prepare for Friday’s live video webinar: The 340B DrugPricing Program: Trends, Controversies, and Outlook. Last week, we documented the substantial concentration of dispensing revenues for specialty drugs. Click here to see the original post from April 2024.
Click here to download a free report overview (including key industry trends, the Table of Contents, and a List of Exhibits) New Drug Channels Institute Study: The Latest Trends for U.S. DrugPricing, Reimbursement, and Patient Costs (press release) We’re offering special discounted pricing if you order before March 28, 2021.
drugpricing, reimbursement, and dispensing system. There are loads of internal hyperlinks to help you navigate the document and customize it to your specific interests and priorities. The 2022 Economic Report on U.S. The report has been thoroughly updated with the latest data and includes loads of new material and new sections.
Last week, I documented that nearly half of U.S. pharmacies now participate in the 340B DrugPricing Program. Below, we update our exclusive analysis of the biggest specialty pharmacies within 340B.
General Comments The NHC appreciates CMS’ commitment to actively engaging with stakeholders, including patients, consumer advocates, and health experts, in implementing the Medicare DrugPrice Negotiation Program (DPNP). This includes collecting data on utilization management practices, formulary changes, and patient experiences.
Rating the 1QFY25 performance of a sample of 18 leading pharma companies, the Ind-Ra report points out that normalisation of drugprices in the US and a softening in raw material prices will help companies to keep revenue growth of 9 per cent yoy and EBITDA margin of about 22 per cent during FY25.
EMA Seeks Public Comment on Re-evaluating the Need for Clinical Safety and Efficacy Data in Biosimilar Development On January 25, the European Medicines Agency’s (EMA’s ) Committee for Medicinal Products for Human Use (CHMP) released a document entitled “Concept paper for the development of a Reflection Paper on a tailored clinical (..)
Measures in the leaked document could allow pharma companies to extend their monopolies beyond the end of the original 20-year patent term, and shut down so-called ‘pre-grant’ channels that can currently be used to block unjustified patents before they are granted.
Today, the district court for the District of Delaware (Judge Connolly) granted the government’s motion for summary judgment on all claims brought by AstraZeneca in its Complaint challenging the DrugPrice Negotiation Program of the IRA. There are now seven remaining lawsuits challenging the DrugPrice Negotiation Program of the IRA.
Proactive measures to protect your patents include: Regular patent portfolio reviews Monitoring competitor activities Maintaining detailed lab notebooks and documentation Implementing strong trade secret protections By staying vigilant, you can often prevent infringement before it occurs or strengthen your position if litigation becomes necessary.
Long headquartered in London, the EU drug regulator is now severed from the country both physically and systematically, with its base now in Amsterdam and the UK now assessing drugs through its own regulatory agency, MHRA.
Expected highlights for 2024 include a final PTA regime, more details on PMPRB drugpricing guidelines and national pharmacare, and fall-out from the US mass drug importation program targeting Canadian medicines. The employee count cut-off in all small entity definitions has increased from 50 to fewer than 100.
In this article, we will delve into the essential aspects of the Drug Tariff to help you become a Drug Tariff Pro and optimise your pharmacy operations. The Drug Tariff is notoriously difficult to access and search online, making it impractical for quick decision making during the prescription dispensing process.
It’s a well-thought through survey document, but I still have uncertainties about how to answer some of the questions – a part asks how many prescriptions were filled with brands and how many with generics. It’s an invaluable document, even if it isn’t perfect. How much were they?). In other words, the $55.96
The list of HEOR competencies includes, but is not limited to, clinical trial design, epidemiology, HEOR modeling, statistics, data mining, collecting and processing statistics and documenting real-world evidence. How Pharmaceutical HEOR Experts impact Drugs Engineering. HEOR Impact on DrugPricing and Marketing.
HRSA issues “Administrative Dispute Resolution” ruling On April 19, HRSA issued a ruling entitled “340B DrugPricing Program; Administrative Dispute Resolution.” The ruling is an estimated 19,247 words long, or just over 37 pages, printed in single-spaced 10-point Arial.
WASHINGTON — The Biden administration on Thursday offered the first glimpse into how it’s planning to enact a new law that will penalize drugmakers for hiking their prices faster than inflation.
Against this backdrop, there has been substantial public debate about rising drugprices forced on consumers, including the trite notion that pharmaceutical companies are being “greedy” and seeking to price-gouge the public. The truth about rising drugprices is more nuanced and merits exploration.
The NHC also requests that CMS highlight when and how the agency removed QALY-based metrics from consideration in MFP justification documentation. Created by and for patient organizations over 100 years ago, the NHC brings diverse organizations together to forge consensus and drive patient-centered health policy.
Federal Trade Commission is widening its probe into pharmacy benefit managers and their impact on drugpricing by looking into a pair of group purchasing organizations that are owned by these industry middlemen, but are not well understood outside the industry , STAT reports. Deputy Assistant Attorney General Sarah Harrington said.
From the post: The HHS Budget in Brief document describes the policy objective simply enough: “ Permit Biosimilar Substitution without Prior FDA Determination of Interchangeability” and clarifies that this means “deem all approved biosimilars to be interchangeable with their respective reference products”.
WASHINGTON — Medicare has chosen a Center for Medicare and Medicaid Innovation official to temporarily lead its implementation of Democrats’ drugpricing law, a document obtained by STAT shows.
AbbVie, Teva Pharmaceutical, and AstraZeneca left over a span of five months following the passage of the drug-pricing reform law pushed by Democrats last year. Financial interests were often not clearly disclosed in NICE documents.
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