Le Lézard
Classified in: Health
Subjects: NPT, LEG, AVO

Gleostine Price Hike Undercuts Drugmakers' Campaign to Deflect Blame for High Prices


WASHINGTON, Jan. 4, 2018 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) released the following statement on the decision to raise Gleostine's price from $50 to $768:

"The drug company's decision to raise the price of the forty-year-old drug Gleostine by 1400% ? despite no change in the supply chain ? undermines drugmakers' attempt to blame their pricing decisions on the insurers, pharmacies, pharmacy benefit managers (PBMs), and wholesalers through which patients access medicines.

This highlights the obvious point that drugmakers set prices like other manufacturers ? according to whatever the market will bear, regardless of underlying costs. Drug price increases are also unrelated to the rebates negotiated by PBMs.

Many high-priced drugs like Sovaldi, which initially cost $84,000, involved no rebates at all. In fact, large percentage rebates often involve lower priced drugs that face significant competition. While PBMs typically pass through 90% of rebates to the employers, unions, and insurers that hire them, a growing number of plan sponsors require 100% pass through. Plan sponsors use rebates to reduce premiums, out-of-pocket costs, and other expenses.

Although drugmakers are lobbying for new mandates forcing Medicare Part D plans to use rebates to reduce point-of-sale costs instead of premiums, CMS has noted that this would raise premiums by up to $28 billion and taxpayer costs by up to $82 billion over the next decade. This would also create a windfall for drugmakers, who would pay up to $29 billion less in Part D donut-hole discounts.

As the Administration and Congress explore ways to improve the health care system, PCMA's DrugBenefitSolutions campaign explains how PBMs reduce costs for public and private programs. The campaign includes videos on how prescription drug pricing works and how rebates and other discounts reduce costs for consumers and payers."

PCMA is the national association representing America's pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.

 

SOURCE Pharmaceutical Care Management Association


These press releases may also interest you

at 06:45
The "Global Pediatric Interventional Cardiology Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to  ResearchAndMarkets.com's offering. The Global Pediatric...

at 06:30
The "Sample Preparation Market by Product (Workstation, Instrument {Pipette, Washer, Centrifuge, Grinder}, Consumable {Kits, Filters, Plates}) Technique (Solid Phase Extraction, Purification) Application (Drug Discovery, Diagnostic) - Global Forecast...

at 06:15
The "Global Immune Health Supplements Market - Outlook & Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering. The global immune health supplements market was valued at $20.80 billion in 2022 and is expected to reach...

at 06:08
ConTemporary Locums, a physician-focused medical staffing company, is ushering in a new era with a bold rebrand: Era Locums. This brand evolution marks a commitment to continued innovation and a deeper connection with the company's physician and...

at 06:05
AIS Healthcare, a leading provider of targeted drug delivery (TDD) and infusion care solutions, is proud to recognize March 25-31 as National Physicians Week. This week and throughout the year, we celebrate the dedication of physicians who selflessly...

at 06:00
The "Liquid Biopsy Markets by Cancer, Usage, Biomarker, Place, & Product With Price and Volume Outlook. Including Executive and Consultant Guides and Customized Forecasting and Analysis 2023-2027" report has been added to  ResearchAndMarkets.com's...



News published on and distributed by: