Crippling drug prices have quickly become one of the hottest topics in health care. Consumers, patients, state budgets and public programs are feeling the burden, and reports show that we’re just getting started.
Daraprim’s price hike was outrageous. But prices on prescriptions that are more widely used also continue to climb. Since the beginning of January, pharmaceutical giant Pfizer has raised prices on more than 100 of its prescription drugs, according to Reuters. Some of those drugs, like medicines used to help treat symptoms of menopause or combat seizures, went up by more than 20 percent. What’s more, Pfizer did not reduce the price of any prescriptions.
Prescription drug prices are rising at an alarming pace and the problem is far more widespread than a few bad actors.
In just the past year, prices have been jacked up on hundreds of medications. The dirty secret is that Big Pharma’s price increases far exceed Daraprim’s. They contribute to BILLIONS in Medicare spending and are used by MILLIONS of Medicare beneficiaries. Below we will take a look at just 30 of those medications.
Skyrocketing drug prices have been a hot issue on the presidential campaign trail. Candidates on both sides of the aisle are talking about the harmful impact these price tags have on Americans, and voters nationwide have been helping drive the conversation.
“Again and again, drug companies like Pfizer raise prices of prescriptions that have already been on the market for years which hurts patients trying to make ends meet and public programs dealing with difficult budgets. These increases, compounded year after year, are simply unsustainable. It’s not about innovation or research; it’s price gouging.”
The Campaign for Sustainable Rx Pricing (CSRxP) is pleased to announce that Allison Schneider has joined as communications director. Allison will lead the Campaign’s communications efforts both inside the beltway in Washington, D.C. and with state and local media throughout the country.
This afternoon, the Centers for Medicare & Medicaid Services took an important step in the drug pricing conversation by introducing a tool that will increase transparency. To develop realistic market-based solutions to unsustainable drug prices requires that everyone focus on value and transparency in drug pricing, and this latest effort from CMS is a positive step.”
Prime Therapeutics LLC (Prime), an independent pharmacy benefit manager overseeing pharmacy benefits for health plans, employers, and government programs including Medicare and Medicaid, recently joined the Campaign for Sustainable Rx Pricing (CSRxP). The coalition is a broad-based organization committed to raising awareness about high drug prices and advancing positive, market-oriented solutions to the affordability crisis caused by escalating drug prices.
“For a breakthrough medication to be effective, it needs to be affordable, yet drug makers fail time and time again to abide by this fundamental principle. The Campaign commends the Senate Special Committee on Aging for challenging the pharmaceutical industry on the irresponsible pricing strategies that deliberately deny patients and consumers access to affordable treatments.”