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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]...

January 8, 2020 Blog, Price and Costs

As each new year begins, the increases in the list prices of drugs are announced. And, following these announcements, the political class complains that something must be done. This year, following the price announcements, Speaker Nancy Pelosi tweeted “Enough is enough” while Senator Grassley emphasized that a “call to action” on drug prices is needed. Undoubtedly, there are real problems. Unfortunately, the politicians seem more interested in espousing simple talking points rather than effective actions that would simultaneously promote innovation and...

January 8, 2020 Briefs, Price and Costs, Resources, Studies

As Washington pushes for price caps and government controls to address prescription drug prices, a new issue brief released today by the Center for Medical Economics and Innovation at the Pacific Research Institute argues that reforming the complex drug supply chain and ending the current drug pricing system that overcharges patients – along with system-wide reforms – are what’s needed to lower America’s health care costs. “Politicians are promoting drug price caps and increased regulation in a futile attempt to increase...

December 13, 2019 Issues, Policy Proposals

Yesterday the House passed the ill-considered “Pelosi bill” that would impose draconian price controls on drugs. Ignoring the bill’s many adverse impacts, price control advocates like Speaker Pelosi appear to believe that these command and control schemes can solve the systemic health care affordability problem. But, as the latest government data illustrates, such efforts are a fool’s errand. Consider that back in 1960 national health expenditures equaled 5.0% of GDP. Health expenditures have been growing faster than the economy ever since reaching 17.7%...

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...

November 7, 2019 Blog, Innovation, Policy Proposals

Once wide coercive powers are given to government agencies…such powers cannot be effectively controlled. F.A. Hayek As part of the chorus calling for drug price controls, the New York Times editorial page has claimed that “Americans will need to accept a trade-off that other advanced nations long since come around to: Slightly fewer new drugs will come to market, in exchange for better prices on the medications that already exist”. There is not one part of this statement that is true. Worse, if the Times’...

November 7, 2019 Blog, Innovation

Did you catch the story about the swarm of 25,000 bees that had to be captured and removed (by a special police unit, no less) from the Staten Island Ferry Station in New York City? After many years of media reports about honeybees and wild bees dying off, you’d think they were nearly extinct — so what were 25,000 of them doing at a ferry terminal in one of the world’s most densely populated cities? Maybe they heard that New York was...

October 29, 2019 Innovation, Price and Costs

“Three hundred forty-five billion dollars in savings versus the cost of eight to 15 fewer drugs over 10 years, I frankly think it’s worth it.” Rep. Darren Soto (D-FL), hearing before the House Energy and Commerce Committee In the above quote, Representative Soto is defending H.R. 3, the drug price control bill Speaker Nancy Pelosi is advocating. While the Congressman believes that the costs of price controls are “worth it”, patients living with diseases that lack an effective treatment may disagree. While there has...

October 25, 2019 Issues, Policy Proposals

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 22, 2019 Blog, Policy Proposals

In September 2018, the Centers for Medicare & Medicaid Services (CMS) sent an email announcing that it would no longer cover Auryxia®. Auryxia® is an FDA approved medicine that treats iron deficiency anemia (anemia) for patients with chronic kidney disease (CKD) but who are not on dialysis. People with CKD have damaged kidneys that no longer filter their blood properly. Currently, 30 million people in the U.S. are living with CKD, and for these patients, anemia is common. If left untreated,...

October 21, 2019 Blog, Price and Costs

Despite their abysmal track record, government solutions are back in vogue. Ostensibly, government’s scale, leverage, and freedom from profit will unlock potential health care savings that are beyond the reach of the private sector. At their most extreme, reforms such as “Medicare for all” call for a complete government takeover of the health care system. Proponents of single payer reforms claim that only a complete government takeover of the health care sector can eliminate the health care sector’s inefficiencies and ensure 100 percent...

October 10, 2019 Blog, Innovation

Every so often, we scientists encounter something that is so misguided, so wrong-headed, so perfectly idiotic it takes our breath away. It offends us. Such an example is a docudrama film called “Modified.” Disguised as a tender, sentimental story of a Canadian woman learning over many years from her mother the value of home-grown, homemade food—a sort of culinary version of “Anne of Green Gables”—it is nothing more than an anti-social screed providing fodder for the anti-science, anti-corporate echo-chamber that...

October 9, 2019 Blog, Price and Costs

Influenza — the flu — is more than a bad cold. Seasonal outbreaks mean not only misery but increased hospital admissions and deaths. The last flu season, from October 2018 until May 2019, caused up to 42.9 million illnesses, up to 647,000 hospitalizations and up to 61,200 deaths, according to preliminary numbers from the Centers for Disease Control and Prevention. Those figures are slightly higher than the average over the last decade. What can we expect this year? Australia’s flu season, which...

October 8, 2019 Infographics, Price and Costs

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October 2, 2019 Briefs, Industry Trends, Innovation, Price and Costs, Resources

Biosimilars have the opportunity to bring significant savings to state Medicaid programs and consumers with commercial insurance according to a new study released today by Pacific Research Institute. “Every state would experience significant savings in the state Medicaid programs from expanding the use of biosimilars compared to the more expensive originator biologics,” said Dr. Wayne Winegarden, director of PRI’s Center for Medical Economics and Innovation and author of the new issue brief on biosimilars. “The same benefits will also accrue to...