Nearly seven-eighths of the country's top healthcare leaders favor the government taking a bigger role in curbing the rising cost of prescription drugs, while nearly all say that the two-year runup in drug prices has hurt their bottom lines.
As more details emerge chronicling the lengths some pharmaceutical firms have gone to to set a premium price on their products, stakeholders are split on whether the government will act on the crisis.
Federal health officials are warning doctors and patients that two hepatitis C drugs from AbbVie can cause life-threatening liver injury in patients with advanced forms of the disease.
The pharmacy benefit management industry has been quietly changing amid healthcare payment reforms and an increasingly fierce debate over drug prices. Now a leadership shuffle at Express Scripts has experts speculating that the days of PBMs as stand-alone companies may be numbered.
Health insurers and pharmacy benefit managers (PBMs) are hoping recent mergers and their growing market clout will help them win steeper drug discounts in their ongoing war with the pharmaceutical industry over specialty drug pricing.
Gilead Sciences on Tuesday reported second-quarter earnings of $4.49 billion. On a per-share basis, the Foster City, California-based company said it had profit of $2.92. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, came to $3.15 per share.
Sovaldi, the $1,000 pill for hepatitis C, is no longer the favorite of patients and doctors. The new leading pill is more expensive, and the number of patients seeking a cure has surged.
The Food and Drug Administration may issue approval decisions this month and next for two cholesterol-lowering drugs that could drive the nation's drug costs even higher.
FDA advisory panels this week recommended approval of two drugs that may significantly lower cholesterol. But experts warn the potential high cost for these blockbuster drugs could limit their access and once again raise concerns about skyrocketing prescription costs.
Physicians face tough predicaments in attempting to prescribe highly effective new hepatitis C drugs for their patients while health plans strive to curb the high costs of those medications.
A strong sales year for its prescription products and participation in emerging markets enabled Novartis Corp. to maintain its position as the largest pharmaceutical company in 2014. Meanwhile, Actavis saw a 50.5% revenue increase, and Biogen's revenue grew by 40%.
Pharmaceutical company AbbVie will unveil its first-quarter earnings Thursday, giving investors and industry observers their first glimpse of what a full quarter of sales looks like for its new hepatitis C treatment.