drug costs News

Blues Health Insurers Back Venture to Lower Generic Drug Prices

A group of Blue Cross Blue Shield insurers is investing $55 million in a venture that aims to offer cheaper prices to their members on generic drugs that currently have little or no competition, the companies said on Thursday. The …

Democrats Pass Bill to Lower Prescription Drug Prices for Seniors

The U.S. House of Representatives on Thursday approved legislation aimed at driving down the prices that seniors pay for prescription drugs, but the bill’s future is clouded by President Donald Trump’s threat of a veto and lack of support in …

States, Congress Questioning Pharmacy Benefit Managers’ Role in Drug Prices

Several states are probing pharmacy-benefit managers’ business practices in government-sponsored health programs, adding to the scrutiny the middlemen face in Washington for their role in the cost of drugs. At least three state attorneys general are investigating PBMs, in addition …

Senators Seek Probe of Pharmacy Benefit Managers’ Pricing Practice

Two U.S. senators have asked the inspector general of the Health and Human Services Department to investigate a practice by pharmacy-benefit managers known as spread pricing, as part of a wider inquiry by lawmakers into U.S. drug costs. Ron Wyden …

Trump Plan to Curb Drug Prices Targets Rebates to Pharmacy Benefit Managers

The Trump administration proposed ending a complex system of drug rebates that influence tens of billions of dollars in U.S. pharmaceutical spending, a move that could upend the relationship between drugmakers and pharmacy benefits middlemen. The proposal, a long-awaited part …

Drug Advertising Drives $30 Billion Medical Industry Marketing Machine

Ads for prescription drugs appeared 5 million times in just one year, capping a recent surge in U.S. medical marketing, a new analysis found. The advertisements for various medicines showed up on TV, newspapers, online sites and elsewhere in 2016. …

Why Patent ‘Shenanigans’ Share Blame for High Cost of Drugs

Bob Kelsey can’t afford a cancer drug that could save his life. The retired firefighter, 53, needs Revlimid to stay healthy. Celgene Corp. has raised the price 88 percent over the past seven years. The drug doesn’t have substantial competition …

CVS to Pay $67.5B for Aetna to Create Giant Health Firm with ‘10,000 New Front Doors’

CVS Health Corp. will buy Aetna Inc. for about $67.5 billion, creating a healthcare giant that will have a hand in everything from insurance to the corner drugstore. CVS will pay $207 a share for Aetna, with $145 a share …

How Payment Policies of Insurers, Government Discourage Opioid Alternatives

For the drug industry, building a better pain pill is a problem. Pharmaceutical companies have introduced new medicines to treat dependence, reverse overdoses, and deal with opioids’ side effects. But few effective and economically viable alternatives to addictive painkillers have …

Chinese Forced into Massive Debt to Pay for Vital Healthcare

As China’s medical bills rise steeply, outpacing government insurance provision, patients and their families are increasingly turning to loans to pay for healthcare, adding to the country’s growing burden of consumer debt. While public health insurance reaches nearly all of …