As prescription drug spending continues to increase, governments continue to scrutinize arrangements between pharmaceutical companies, healthcare providers, assistance programs, and patients. For example, recently, two non-profit foundations – Chronic Disease Fund, Inc. (“CDF”) and Patient Access Network Foundation (“PANF”) – have agreed to pay $2 million and $4 million, respectively, to resolve allegations that they
Drug prices are still going up … despite Transparency Laws
A recent report released by California health officials revealed that drug prices are still on the rise – even despite California’s drug-price transparency laws aimed at curbing drug cost.
In 2017, California passed a drug-price transparency law that requires manufacturers to notify its customers at least 60 days in advance if they plan to increase
Florida passed a bill allowing drug importation
The Medicare Modernization Act (2003) allows states to enact their own drug importation laws. The Act specifies that such laws would only be valid if the federal government reviewed and approved a state’s proposal to import prescription drugs. Despite the length of time since the passage of the Act, no state has enacted such law
California’s Drug Pricing Transparency law: will it help in reducing the healthcare spending?
Last month, California Governor signed the most comprehensive drug pricing transparency bill in the nation. SB-17 is intended to promote transparency in drug pricing, reduce overall healthcare spending, and shine light on how drugs are priced. Under the new law, drug manufacturers, PBMs, health plans, and insurers operating in California are required to report drug
States take drug price gorging into their own hands
Unlike most countries, the U.S. does not regulate drug pricing but allows the market to set them according to demand. On numerous occasions, the U.S. Congress sided with the pharmaceutical industry and failed to pass laws that would change how drugs are priced. In addition, the Trump administration has delayed the implementation of a rule
Biosimilars – effect on specialty pharmacy
Biologics are the fastest growing and the most expensive class of drugs on the market. The current cost of biologics is between $50,000 to $250,000 for one year of treatment. FTC Press Release. The numbers are expected to increase even further. Congressional Research.
Biosimilars –on the other hand – are less expensive due