Drug Price Negotiations - Cost of 10 Rx drugs to be reduced for Medicare

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uncgriff said:
There are only 2 countries in the world that allow this

New Zealand and the US

It's ridiculous. The eczema and psoriasis commercials are simply insane right now. The profit margin is so enormous it justifies non step advertising during the Olympics for a very niche drug.
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should be banned. the sad reality is that for the two markets you mention, consumer preference drives product choice, not physicians. The PBMs support this by putting products in preferred status (they reap the rebate and deliver to their shareholders leaving payers and consumers with very little savings) and the manufactures (who pay the rebates) are the ones advertising. toxic, sick system.
 
gtyellowjacket said:
I'm glad he did it, but honestly, this feels like election year pandering. 10 drugs 3 months before the election? I'm a Biden fan but what have you been doing the last 4 years on the thousands of drugs people use?
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Is this bait?

“The program selected the first 10 medicines for negotiation last year based on several conditions laid out in the Inflation Reduction Act, which ended Medicare’s 20-year ban on negotiating drug prices. The drugs included blockbuster blood thinners, like Eliquis and Xarelto, as well as drugs for arthritis, cancer, diabetes, and heart failure.

The negotiated prices will go into effect in January 2026.”

 
gtyellowjacket said:
I've competed a lot on the amateur circuit in hicksville but this is my first shot at the big time in Tulsa.
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gtyellowjacket said:
I'm glad he did it, but honestly, this feels like election year pandering. 10 drugs 3 months before the election? I'm a Biden fan but what have you been doing the last 4 years on the thousands of drugs people use?
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its certainly much more tangible than trumps basic magic BS about taxes will be zero, the budget will be balanced, you will fill your swimming pool with cheap gas if you want and nobody will ever see a mexican on the street again.

oh and we will be respected by Putin, Xi and Kim Jung Un but our actual allies will be screwed as much as we plan on screwing the libs.
 
Batt Boy said:
should be banned. the sad reality is that for the two markets you mention, consumer preference drives product choice, not physicians. The PBMs support this by putting products in preferred status (they reap the rebate and deliver to their shareholders leaving payers and consumers with very little savings) and the manufactures (who pay the rebates) are the ones advertising. toxic, sick system.
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yep
 
gtyellowjacket said:
I'm glad he did it, but honestly, this feels like election year pandering. 10 drugs 3 months before the election? I'm a Biden fan but what have you been doing the last 4 years on the thousands of drugs people use?
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Just so I’m clear, you feel like there is a point in an election year where the incumbent should STOP delivering on the work they have been trying to pass for the prior 3 years because it appears that they are just trying to get people’s votes, and that’s unfair?

Is that what you’re saying?
 
Lately the radio waves are full of
"Come by and we will suck all your blubber away " ads And of course the "Hey we have $1500 a month Diabetes Medicine that will help you lose weight "
Can any of this stuff be healthy??
 
Paine said:
Is this bait?

“The program selected the first 10 medicines for negotiation last year based on several conditions laid out in the Inflation Reduction Act, which ended Medicare’s 20-year ban on negotiating drug prices. The drugs included blockbuster blood thinners, like Eliquis and Xarelto, as well as drugs for arthritis, cancer, diabetes, and heart failure.

The negotiated prices will go into effect in January 2026.”

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You’ll have to excuse gt, his centrist bosider character sometimes overacts the role.
 
It took years of hard work just to get to this point. Had to pass legislation which was not easy given lobbyists. Then had to set up lengthy public comment and regulatory process. Pharmas fought all the way, and sued in court to prevent. Landmark and hard-fought win
Originally IIRC Biden Admin wanted to say take the average of what you charge in CAnada, ANZUS and EU and add 5 or 10% and we will charge that. Pharmas blocket that.
 
Has anyone used Mark Cuban's new company for prescription medication? Just saw him on Jon Stewart and he was talking about removing the middleman, transparency in prices, etc.
 
NCK9 said:
as posted in the stock market thread - is there a similar chart comparing the price to what it sells for in Canada and Europe?
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Not what you are asking for, but related in that it is much more detailed background on the entire process:


Not a chart, but more on target:


"... The annual list price of Bristol Myers Squibb’s Eliquis, a blood thinner that reduces the risk of stroke, is $7,100 in the US. But in Japan, it’s $940; in Canada, it’s $900; in Germany, it’s $770; in the United Kingdom, it’s $760; and in France, it’s $650.

Johnson & Johnson’s arthritis drug Stelara carries an annual list price of $79,000 in the US. In Germany, it’s $30,000; in Canada, it’s $20,000; in the UK, it’s $16,000; in Japan, it’s $14,000; and in France, it’s $12,000.


And the annual list price of Merck’s cancer drug Keytruda is $191,000 in the US, while in the UK, it’s $115,000; in Canada, it’s $112,000; in France, it’s $91,000; in Germany, it’s $89,000; and in Japan, it’s $44,000. ..." [Note: Keytruda didn't make the list of reductions]
 
nycfan said:
Not what you are asking for, but related in that it is much more detailed background on the entire process:


Not a chart, but more on target:


"... The annual list price of Bristol Myers Squibb’s Eliquis, a blood thinner that reduces the risk of stroke, is $7,100 in the US. But in Japan, it’s $940; in Canada, it’s $900; in Germany, it’s $770; in the United Kingdom, it’s $760; and in France, it’s $650.

Johnson & Johnson’s arthritis drug Stelara carries an annual list price of $79,000 in the US. In Germany, it’s $30,000; in Canada, it’s $20,000; in the UK, it’s $16,000; in Japan, it’s $14,000; and in France, it’s $12,000.


And the annual list price of Merck’s cancer drug Keytruda is $191,000 in the US, while in the UK, it’s $115,000; in Canada, it’s $112,000; in France, it’s $91,000; in Germany, it’s $89,000; and in Japan, it’s $44,000. ..." [Note: Keytruda didn't make the list of reductions]
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thx - the disparity in pricing is crazy. That should be our focus - "want to be able to run ads on TV/social media in the US...then charge us the same that you do in other developed countries."
 
TarHeelGrad said:
Has anyone used Mark Cuban's new company for prescription medication? Just saw him on Jon Stewart and he was talking about removing the middleman, transparency in prices, etc.
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I have. Prices are great but kind of a pain to get setup and customer support that is non-existent. And they can't fill any controlled substances. Also its mail order and takes a few days so not as convenient as slipping down to the local pharmacy to pick up a prescription when you're down to the last couple of days.

But the pros outweigh the cons for me and I use them.
 
In addition to pharma. the other hold-up has been the majority of Republicans who want to privatize Medicare. Their disingeuous argument has been that the Fed Govt can't negotiate on Medicare, privatize it, and those prices can be negotiated. Now the govt can negotiate just like it does with Medicaid and VA. And this will help long-term sustainability of Medicare and those who want to use Medicare Advantage instead can still do so
 
Know someone on Keytruda. Every 3 weeks. Not a MAGAt but a hard R. Hates government socialism. Medicare w supplement covers the cost...
 
NCK9 said:
thx - the disparity in pricing is crazy. That should be our focus - "want to be able to run ads on TV/social media in the US...then charge us the same that you do in other developed countries."
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The difference is those countries have one central buyer, the government.
 
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