De facto price controls will impose heavy costs on Nevada that include higher health care costs and lower health care quality....
One of the cornerstones of Great Britain’s National Health Service is an agency that approves and controls access to prescription drugs, the National Institute for Health and Care Excellence. NICE recently announced a new policy that could delay and restrict access to new medicines for British citizens if the agency deems they don’t pass its “budget impact test.” A drug may be approved as safe and effective, but patients could still wait for years to get it if the agency...
Imagine if you never had to directly pay for your morning cup of coffee again. Instead, a coffee insurer guaranteed that, for a small co-pay, you could enjoy a cup of coffee every morning. Sounds good? The catch, and there is always a catch, is the caveat “directly pay.” In this bizarre world, you would still be paying for your cup of coffee every morning, but instead of paying your favorite barista, you would now pay your local coffee insurer. But, bureaucracy loves...
President Donald Trump is not the only politician saying he is going to work to get drug prices down. Oregon lawmakers are already patting themselves on the back for tackling drug prices. Rep. Mitch Greenlick (D-Portland) says the measure, Oregon House Bill 2387, could be a model for national reform. "If we can actually get it done," he recently explained, "it will show the country how to get those costs down." Let's hope he's wrong. The reform he's supporting is nothing...
The bill is a creative way to impose price controls, which will impose heavy costs on Oregon, that include higher health care costs, and lower health care quality....
A recent oped in The Hill by MedShadow Foundation founder Suzanne Robotti claims that permitting Americans to import prescription drugs from Canada would save dollars and lives. It would do neither. Prescription drug importation has several notable proponents, like Sens. John McCain (R-Ariz.), Amy Kobuchar (D-Minn.), and Bernie Sanders (I-Vt.), along with President Donald Trump. Without question, all of them sincerely want to make medicines more affordable. But importation wouldn't save patients much money. Instead, it would hamstring the Food and...
Minnesota Senator Amy Klobuchar just introduced a federal budget amendment that would legalize the importation of foreign prescription drugs. This particular policy change has long topped Democrats' health care wish list, but shockingly, they might find support across the aisle this year, as President-elect Trump has spoken glowingly of importation. The bipartisan support doesn't make the proposal any better an idea. Legalizing importation would expose Americans to substandard foreign pills and undermine domestic drug innovation. Importation proponents say that American patients could...
The imminent repeal of the Affordable Care Act (aka Obamacare) is garnering most of the health care headlines, and rightly so. But, the focus on Obamacare should not overshadow other health care modifications that may be considered during the 115th Congress. Paramount among these proposals is the issue of drug importation. Currently, it is illegal to import drugs into the U.S. from other countries. It is rumored that several Senators will, in short order, attach amendments to the current budget resolution...
The deaths of two patients at the Ronald Reagan UCLA Medical Center in early 2015 were blamed in part on a drug-resistant superbug. Two years earlier, the Centers for Disease Control and Prevention predicted that a “nightmare” was coming in the form of the killer bacteria carbapenem-resistant Enterobacteriaceae, also known as CRE. The bad dream was a grave reality for those patients who had gone to the hospital to merely undergo endoscopies and were likely infected by CRE from equipment...
Responding to the problem of drug-resistant infections and the decline in the development of new antibiotics, this study explores ways to incentivize the development of new treatments that will effectively address this growing public health crisis....
While ostensibly designed to help, often the regulatory state only makes matters worse. Unfortunately, this maxim applies to the impact from regulations on new technologies that could help lessen the nation’s large and growing opioid abuse crisis. The total healthcare costs of prescription opioid abuse in 2007, which have likely increased since the crisis has continued to worsen, was estimated to be as high as $55.7 billion. These costs include higher health care expenses, reduced productivity at the workplace, and more spending...
FDA officials apparently think that doctors aren't smart enough to understand the labels on the medications they prescribe. The agency recently released draft guidance for how the pharmaceutical industry should label "biosimilars," a new class of medicines. These guidelines state that biosimilars' labels should leave out critical information in order to avoid causing "confusion" among doctors. Omitting this data could harm — or even kill — patients. The FDA should reverse course — and urge drug manufacturers to give doctors all the information...
Between 2006 and 2015 the S&P 500 grew 7.25% per year on average–if you had invested $100 in the stock market in the beginning of 2006 it would be worth nearly $188 by the end of 2015. Sounds great. But, any investor during that period would surely feel less confident. After all, following the 36% decline in stock prices in 2008, a nervous investor might inaccurately conclude that the future is grim and that stock prices will never grow again. Alternatively, following the...
California is losing the battle against opioid addiction. Every 45 minutes, someone in the Golden State overdoses. Fifty percent more people overdose today than in 2006. Fortunately, the Food and Drug Administration just approved the anti-addiction treatment Probuphine. It’s an implant placed in a person’s upper arm, where it releases a steady stream of an anti-addiction drug called buprenorphine to help addicts stay sober. Medical breakthroughs like this one could become rarer if a ballot measure under consideration in California is ratified...
Innovations in the pharmaceutical industry have significantly improved health outcomes for patients and have made important contributions to the U.S. economy. Provisions in the 21st Century Cures bill would help address these problems by accelerating the approval process for innovative pharmaceutical drugs and as a result, extend the effective patent lives for new pharmaceutical innovations....
Imagine being denied treatment for cancer because Washington bureaucrats decided that a cutting-edge new therapy that could cure you just wasn’t “cost effective.” That’s already happening in Britain under its government-run health care system, the National Health Service. And Medicare officials are poised to bring similar policies here. The NHS’s “Cancer Drugs Fund” restricts physicians’ ability to prescribe half of all oncology medicines. If a medicine doesn’t extend the average cancer patient’s life span by a set length of time, which varies...
Like your iPhone? Federal officials designed it. Couldn't live without the Internet? Thank Uncle Sam — he invented it. Sick and need new medicine? Don't worry — the government is here to help. This fantastical line of thinking — that because the government funded basic, early-stage research, it can claim credit for a final product decades later — underpins the latest calls for more federal control of drug prices. Such calls are grossly ill-informed and demonstrate a deep misunderstanding of the drug...
The study examines the market forces influencing the often dramatic price differences in pharmaceutical drugs before and after their patents expire....