Author: Pacific Research Institute

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January 30, 2020 Blog, Issues, Price and Costs

Trump administration officials keep searching for solutions to rising prescription drug prices, which are increasing faster than inflation. “Drug makers and companies are not living up to their commitments on pricing. Not being fair to the consumer, or to our Country!” President Donald Trump tweeted last year. However, it’s hard to know what “fair” prices are. After all, pharmaceutical research and development is expensive and high risk. Bringing a drug to market may take 10 or more years and costs, on average, more than $2.5...

January 23, 2020 Policy Proposals, Price and Costs

Drug supply chain, pricing system reforms will slash healthcare costs, says PRI By Jeff Lagasse As the Trump administration pushes for price caps and government controls to address prescription drug prices, a new issue brief released by the Center for Medical Economics and Innovation at the Pacific Research Institute contends that reforming the complex drug supply chain and ending the current drug pricing system that overcharges patients – along with systemwide reforms – are what's needed to lower America's healthcare costs. Many proposals have been...

January 20, 2020 Issues, Policy Proposals

A recent New York Times editorial about the Food and Drug Administration reflects a systematic weakness at the once-venerable Gray Lady: The members of the editorial board often rely on sloganeering and popular wisdom instead of substantive evidence. The editorial was headlined, “The FDA Is in Trouble. Here’s How to Fix It.” The agency is in trouble. But it’s due to the very kinds of “fixes” the Times recommends. The FDA is highly bureaucratic and risk averse, leading to a slow and expensive drug approval...

January 20, 2020 Blog, Innovation

Much of the progress in medicine during the past half-century has involved expensive, high-tech diagnostic tests and therapies. The trend in this direction worries health economists and politicians because it has the potential to send already high health care costs into the stratosphere. Health care spending in 2017 reached $3.5 trillion, or a whopping 17.9% of the nation’s gross domestic product, according to government statistics. However, there is an important role as well for ingenious, low-tech, less-expensive approaches to improved health...

January 13, 2020 Blog, Policy Proposals

Dr. Wayne Winegarden, director of PRI’s Center for Medical Economics and Innovation, breaks down recently-proposed plans in Washington and Sacramento that emphasize price caps and more government control to address prescription drug prices. He discusses the conclusions of his new study on America’s drug pricing challenge, which makes the case that system-wide reforms to improve the complex drug supply chain and increase transparency are what’s needed to lower health care costs. [embed]https://www.youtube.com/watch?v=LXSIkIWH3X4[/embed]...

December 10, 2019 Blog, Industry Trends

China has become the world's largest producer and exporter of "active pharmaceutical ingredients," the base components drug companies use to manufacture most of the medications we rely on. China's dominance puts both the health of Americans and our national security at risk. According to the findings of a new report from the U.S.-China Economic Security Review Commission, which was established by Congress in 2000, China's pharmaceutical industry "is not effectively regulated by the Chinese government" and has been responsible for a...

November 14, 2019 Blog, Policy Proposals, Price and Costs

Biosimilars could generate savings of about $116 million in New Jersey annually—including the state’s Medicaid program and patients with commercial insurance, according to a new issue brief by the Center for Medical Economics and Innovation at the Pacific Research Institute. Nationwide, those annual savings could reach $7 billion. PRI is a San Francisco-based free-market think tank. “We broke it down so you can look at it by state total and then breakout how much is for Medicaid which is directly applicable...

October 25, 2019 Issues, Policy Proposals, Radio

Lars brings on Dr. Henry Miller, a physician, molecular biologist and Senior Fellow at the Pacific Research Institute, and widely published in both scholarly journals and the popular press to discuss this year’s battle against the ever so deadly flu virus. According to Dr. Miller, “Last flu season, which ran from October 2018 until May 2019, caused up to 42.9 million flu illnesses, up to 647,000 hospitalizations and up to 61,200 flu deaths.” Listen below for more. ...

October 8, 2019 Infographics, Price and Costs

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July 26, 2019 Policy Proposals

Opioids: Bad Science, Bad Policy, Bad Outcomes By Henry I. Miller, M.S., M.D. and Josh Bloom There’s an old joke about the drunk who’s hunting for his lost keys under the lamppost, not because he thinks they’re there, but because the light is good. Well, that’s what the feds and state governments are doing to try to quell the epidemic of opioid addiction and overdoses. The problem is quite real, but legislators and regulators are making incorrect assumptions and adopting flawed strategies. And...

July 19, 2019 Policy Proposals, Price and Costs

Report: Growing biosimilar market could save billions in health spending by Paige Minemyer Growing the biosimilar market could lead to significant healthcare cost savings, according to a new report, with the opportunity for billions in cost reductions. An analysis (PDF) from the Pacific Research Institute, a free market think tank, shows today the limited biosimilar market share saved about $253.8 million per year in spending. If biosimilars gained a 25% market share, those savings would increase to $2.5 billion, they said. If the market share increased further,...

July 12, 2019 Policy Proposals, Price and Costs

Biosimilars Struggle to Gain Market Share in the U.S., Analysis Shows By Alex Keown Over the past several years, the U.S. Food and Drug Administration has approved a number of biosimilar medications, therapies that have similar properties to a branded drug, but are different in composition, which differentiates them from generic drugs. The approval of biosimilar treatments has been supported at the highest levels as a means to increase competition in the market and help regulate some of the high costs of prescription...

June 26, 2019 Price and Costs, Studies, Value

A new poll from the California-based nonpartisan think tank, the Pacific Research Institute (PRI), shows that Americans overwhelmingly support innovative gene therapies, which change the focus of medicine from treating illnesses to curing illnesses. Click here to read the top-line results of PRI’s poll on gene therapies “Gene therapies have the potential to cure a wide array of difficult-to-treat diseases, including Alzheimer’s Disease, autism, cystic fibrosis, HIV, and cancer, among others” said Dr. Wayne Winegarden, director of PRI’s Center for Medical Economics...

May 15, 2019 Price and Costs

Why People with Diabetes Drive for Hours to Buy Insulin in Canada By Christopher Curley For Lija Greenseid, the math was simple. Drive a few hours to pay $56 for a box of Humalog insulin pens for her young daughter with type 1 diabetes or pay as much as $230 at home. The decision, in fact, was a no-brainer for Greenseid and a group of diabetes advocates and patients who made the trek from Minnesota to Canada to buy insulin in early May. That trip...