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The historic Inflation Reduction Act of 2022 has fundamentally improved the affordability of and access to prescription drugs for millions of people with Medicare. The law laid out aggressive timelines for implementing the Medicare DrugPrice Negotiation Program.
billion in revenue by dispensing medicines to treat cancer, HIV, heart disease and other serious illnesses at prices that exceeded their estimated acquisition costs between 2017 and 2022. The FTC noted in its report that so-called specialty generic drugs represent a large and growing amount of spending by plan sponsors and patients.
Passage of laws to address pharmacy middlemen has been the top priority of the pharmaceutical industry, particularly after they suffered a stinging defeat when Democrats passed their drugpricing law in 2022. Continue to STAT+ to read the full story…
Challenging market conditions, driven by drugpricing pressures, regulatory shifts, and geopolitical tensions, have reshaped the landscape, offering both hurdles and opportunities for contract manufacturing organisations (CMOs) to adapt and innovate amidst global generic shortages, reveals GlobalData.
It's time for Drug Channels annual examination of U.S. brand-name drugpricing. For 2024, average brand-name drugs list prices grew by only 2.3%. Whats more, after adjusting for overall inflation, brand-name drug net prices dropped for an unprecedented seventh consecutive year.
The NHC supports the efforts to reduce out-of-pocket costs for Medicare beneficiaries and appreciates CMS’ work to establish a process that seeks to incorporate patient perspectives into drugpricing policy. This will allow other stakeholders (e.g.,
Minnesota just released the industry‘s first ever mandated financial report on the 340B DrugPricing Program. It’s time to pay attention to the money behind the 340B curtain. Below, I do a wicked deep dive into the data and highlight crucial implications about spending, profits, pharmacies, plans, patients, program integrity, and more.
Deep Dive Library Events Press Releases Topics Sign up Search Sign up Search Pharma Biotech FDA Clinical Trials Deals DrugPricing Gene Therapy An article from Dive Brief Actithera draws new investors to radiopharma drug pitch The four-year-old biotech raised about $75 million in a Series A round that involved nine venture capital firms.
This pathway’s expanded use and shifting Centers for Medicare & Medicaid Services (CMS) policies are reshaping reimbursement practices and therapeutic equivalence standards for 505(b)(2) drugs. In 2022, CMS reevaluated 505(b)(2) drugs in relation to section 1847A of the Social Security Act (SSA).
National Survey on the Effect of Oncology Drug Shortages in Clinical Practice: A Hematology Oncology Pharmacy Association Survey. 2 (2022): e314e322. Food and Drug Administration, Importing Biologics and CBER Regulated Products. Journal of Oncology Practice 18, no. 6 Avalere Health, Majority of API in U.S.
accelerates its crackdown on drugpricing through new legislation and regulatory enforcement, pharma companies in China, India, Japan, and South Korea are feeling the ripple effect. This move marked a major shift in how drugpricing is managed in the United Statesa market that contributes significantly to global pharma revenues.
during the 2024-2025 RSV season compared to the 2022-2023 season, per data presented at the 43rd Annual Meeting of the European Society for Pediatric Infectious Diseases (ESPID). For instance, an immunization program that was executed in Spain using Beyfortus reportedly reduced infant hospitalizations due to RSV by 69.0%
In Slovakia, reforms in 2022 were to introduce improvements to the reimbursement rates in the market by creating a systemic pathway for negotiations and managed-entry agreements. GlobalData Strategic Intelligence US Tariffs are shifting - will you react or anticipate?
A federal judge rejected Johnson & Johnson’s challenge to block its proposed rebate model under the 340B DrugPricing Program. based UW Health is not legally required to engage in collective bargaining with its nurses, upholding November 2022 decisions from the Wisconsin Employment Relations Commission.
The rising volume of clinical trials increases demand and competition for patients The number of oncology assets in the clinical development pipeline has increased by 13% annually over five years (2018-2022) 1. 10 “That is simply unsustainable,” Kent Thoelke argues, especially as drugpricing pressures mount in major markets.
A recent report by GlobalData projects that the share of global drug sales under patent protection will decline by 2030. Only 4% of global drugs sales will have patent protection, compared to 12% and 6% in 2022 and 2024. Go deeper with GlobalData Reports Chemotherapy in Pharmaceuticals: Platinum-based cancer drug composi.
Trump signed an executive order titled “Delivering Most-Favored-Nation Prescription DrugPricing to American Patients,” with the objective of lowering drugprices, namely on branded drug products, for American consumers. How Does DrugPricing in the US Compare With Other Countries? REFERENCES 1.
According to GlobalData epidemiologists, 437,425 people were on PrEP in the US in 2022, but this could be considerably higher, highlighting that drugs that help protect against HIV are not being maximised in the country. How will RFK Jr’s American dream for vaccines play out?
In 2022, Axsome paid $53m up front to acquire Sunosi from Jazz Pharmaceuticals. A drug with a recent approval extension in the US, though not the UK, was Supernus Pharmaceuticals’ Qelbree (viloxazine extended-release capsules). Certain patients with obstructive sleep apnoea (OSA) are also eligible to take the medication.
The Trump Administration has revived the most-favored nation (MFN) drugpricing model as a seven-year test, which would tie US drugprices to the lowest prices paid by certain OECD countries—an approach previously blocked by courts. Concerns over price controls. What is MFN model pricing? China wins?
Minnesota just released the industrys first ever mandated financial report on the 340B DrugPricing Program. Click here to see the original post from December 2024. Its time to pay attention to the money behind the 340B curtain.
The drugmaker is also seeking a positive decision for the antibody-drug conjugate (ADC) used in combo with Bristol Myers Squibb’s Pomalyst and dexamethasone in the same proposed patient group. Although initially getting ahead in the now lucrative ADC market, GSK pulled the drug in 2022 after confirmatory trial shortcomings.
Sectors Sections Clinical Trials Drug Manufacturers Therapy Area Pricing and Market Access Latest EC approves BeOne’s Tevimbra for nasopharyngeal carcinoma Formulate Faster. Find out more Lenacapavir was first approved in 2022 under the brand name Sunlenca for the treatment of HIV infection in adults with multi-drug resistance.
By GlobalData Learn more about Strategic Intelligence Expanding on their existing agreement from 2022, Sanofi has exercised an option within the partnership that allows it to select a third SAFEbody discovery programme. How will RFK Jr’s American dream for vaccines play out? Don’t let policy changes catch you off guard.
The company scrapped its initial drug program in 2022 and changed course two years later when a second prospect disappointed. Like many other biotechnology firms, it’s seen its stock price fall significantly during a sector-wide pullback, with shares losing more than three quarters of their value since 2020. TechTarget, Inc.s
During my recent Drug Channels Outlook 2025 video webinar, I tackled a wide range of crucial topicsincluding the controversial 340B DrugPricing Program. As I explain in this video excerpt, we may finally see reform of this rapidly expanding program. Click here if you cant see the video below.
This marks a significant setback for the UK-based pharma company, which is aiming to regain approval of the therapy after it was pulled from the US market in 2022 due to concerns raised by late-stage trial data. How will RFK Jr’s American dream for vaccines play out? Don’t let policy changes catch you off guard.
Christophe Bourdon, who was appointed CEO in 2022 and tasked with turning the fortunes of the company around, has made no secret of public listing plans. How will RFK Jr’s American dream for vaccines play out? Adding Spevigo to its portfolio represents a strengthening of assets for dermatology specialist LEO.
President Trump unveiled a wide-ranging executive order on Tuesday that aims to lower drugprices, boost transparency into fees charged by middlemen, and limit Medicare payments for outpatient services provided by hospitals. The executive order outlines a plan to expand Medicare drugprice negotiation.
WASHINGTON — The deadline for announcing how much Medicare lowered drugprices in the first year of negotiation is Sept. In 2022, Democrats directed Medicare to negotiate drugprices for the first time as part of the Inflation Reduction Act. The first 10 drugs selected for negotiation accounted for $3.4
Even more troubling, these fluctuations have led to unexpected increases in patients out-of-pocket expenseseven when a drugsprice was declining. In many cases, the rate dips temporarily before snapping back to the standard 20%. These unpredictable coinsurance shifts are another example of the IRAs unintended consequences.
WASHINGTON — Two Republican lawmakers who introduced legislation to water down the Inflation Reduction Act’s Medicare drugprice negotiation program managed to find themselves a Democratic co-sponsor — even though every single Democrat in Congress in 2022 voted for the legislation.
At the same time, net prices health plans paid for medicines — after subtracting rebates, discounts, and fees — dropped by 0.4%. But again, after considering inflation, net prices actually fell 8.5%, compared with 8.2% in the third quarter of 2022. Continue to STAT+ to read the full story…
30, five gave to Democratic candidates, even though Democratic lawmakers passed the most aggressive drugpricing reform in decades in 2022. But of the six executives who donated to individual candidates between July 1 and Sept. Continue to STAT+ to read the full story…
WASHINGTON — Three large pharmaceutical companies left the brand-drug lobby PhRMA after the passage of Democrats’ drugpricing law in 2022. Following the exits, the organization collected $100 million less in annual membership dues, new tax filings show. Continue to STAT+ to read the full story…
It is also the latest instance in a growing trend of pharmaceutical companies re-evaluating their memberships in large trade groups following a historic lobbying loss when Democrats passed a new drug-pricing reform law in August 2022.
The Inflation Reduction Act, passed by Democrats in 2022, made several changes to Medicare’s drug benefit, known as Medicare Part D. All were aimed at lowering drugprices and drug costs for both seniors and the federal government.
During 2022, drugmakers substantially raised prices on eight widely used medicines without any new clinical evidence to justify the increases, leading patients and health insurers in the U.S. to spend an additional $1.2 billion last year, according to a new report.
The Inflation Reduction Act of 2022 mandates that Medicare-covered drug sales will be protected from price increases that exceed inflation, but the mechanics of this “inflation penalty” have generated some confusion.
In this video, we chat with health policy and drugpricing researcher Hussain Lalani; Julia Joung, a molecular biologist developing genetic screening technologies; and Avinash Manjula Basavanna, who researches engineered living materials and has developed a printable ink made from bacteria.
And after 20 years, they finally delivered on a promise to empower the federal government to lower drugprices in 2022. They have campaigned on passing health insurance reform, and then protecting it. But the remaining elephant in the room is hospital costs, which make up the biggest share of U.S. health care spending.
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