The US has a high drug prices problem. These obscure but powerful companies will now face some tough questions on Capitol Hill.
That's more than last year, when the prices of roughly 2,550 drugs were increased. But this time, the price hikes seem to have been more spread out, with drugmakers waiting"until March instead of January, to avoid scrutiny," said Michael Rea, the founder and CEO of Rx Savings Solutions.
It appears that"drug companies were much more conscientious about their tactics to raise prices this year," Rea said. These calculations are based on the"list price" of a drug, which a drug company gets to decide. The backlash about high drug prices has been focused on drugmakers because, at the end of the day, prices are their purview.
But PBMs also get involved in pricing, playing different drug companies against eachother to negotiate, because bigger and bigger discounts force them to hike prices, and so on.As PBMs have been blamed for the US drug price problem, the face of the PBM industry has been changing. PBMs are increasingly now in-house, folded into the larger corporate machinery of health insurers or even pharmacy chains. So that's who you'll see before the Senate Finance committee on Tuesday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How cutting Obamacare could help drug companies keep prices highPresident Trump has promised to take on big drug companies and drug pricing, but he’s also promised to take out Obamacare. Ali Velshi and Stephanie Ruhle break down how cutting Obamacare could help companies keep prices high. Senator Ron Wyden joins the conversation with his plans to make prescription drugs more affordable.
Read more »
Bitcoin price jumps to four-month high and no one seems to know whyBitcoin’s popularity skyrocketed in 2017 as the value of a single coin ramped up to around $20,000.
Read more »
Biogen SMA drug price, Novartis estimates for its treatment far too high - U.S. groupBiogen Inc should slash the price of its spinal muscular atrophy (SMA) drug, and...
Read more »
19 Parents Share The Moment They Knew They Were Done Having Kids'I realized I was done having kids when I locked myself in the bathroom to cry in peace.'
Read more »
19 Moms Share How They Know They're Done Having Kids'I realized I was done having kids when I locked myself in the bathroom to cry in peace.'
Read more »
Saudi Arabia may keep May crude prices little changedTop oil exporter Saudi Arabia is expected to keep prices of various grades of cr...
Read more »
'Yes, I am': Congresswoman calls on DeVos to step downRep. Katherine Clark says on Morning_Joe: 'We have to stand up for the value that everyone is entitled to a fair and equitable access to a great public education. Betsy DeVos won't do it, and we can't have her as secretary of education.'
Read more »