You have to wonder if pharma gives a damn about PR or politicians. The across-the-board price increases of prescription drugs cast doubt on whether Trump and Health and Human Services Secretary Alex Azar can pressure manufacturers to voluntarily drop prices without the threat of specific consequences.
“The industry isn’t taking the administration seriously on drug pricing because there doesn’t appear to be a credible threat if they don’t comply with these requests, ” said Stacie Dusetzina, a drug pricing expert at Vanderbilt University School of Medicine.
Pfizer said the increases don’t affect the majority of their medicines, adding that the list prices also don’t reflect what most patients or insurance companies pay “ which is the standard talking point for big pharma. You can bet, however, that the media and politicians are going to zero in on these latest price increases as despite the fact that drug manufacturers account for 88 percent of the cost of branded drugs, PBMs account for just 4 percent of the cost , media coverage would lead you to believe that this tiny percentage of a drug’s total expense is driving recent price increases.
We could very well see the huge increase in drug prices continue unabated. If voters don’t see results in the form of lower drug prices by November, America’s future health care laws may be written by the party that is now fully backing a government-run single payer system, with the support of the Big Pharma lobby that endorsed Obamacare and is heavily funding the liberal media.
Originally published at worldofdtcmarketing.com on July 5, 2018.