VIDEO: Fairness in Drug Pricing

May 23, 2014
Yesterday, Dr. Steve Miller joined industry experts and key stakeholders in Washington, D.C. for a serious dialogue on the current state of medicine and how our country can achieve more affordable drug pricing.
Tags
  • Hepatitis C

Specialty medications – used by only 1% of the U.S. population – account for 27% of all pharmacy spend. By 2015, this number will jump to 50%.

While this has been a growing problem over the last decade, the new breakthrough drug for hepatitis C – Sovaldi – has caused payers to sit up and take notice.

At $1,000 per pill or $84,000 for the course of treatment, never before has a drug been priced so high for such a large population. 

A Conversation on Cost and Value

Yesterday, Dr. Steve Miller joined industry experts and key stakeholders in Washington, D.C. for a serious dialogue on the current state of medicine and how our country can achieve more affordable drug pricing.

The panelists explored the interrelated issues of access to affordable quality care; the dynamics of international drug pricing; and the importance of maintaining active research and development.

A few highlights:

“High quality care that is unaffordable isn't high quality care.” – Dr. Sharon Levine; Associate Executive Medical Director, The Permanente Group
“We cannot sustain six figure therapies and we are at the beginning of that trend.”  – Karen Ignagni, President and Chief Executive Officer, America’s Health Insurance Plans
“In California alone, if we were to switch from the current course of treatment for hepatitis C to Sovaldi, costs would go up $22 billion in one year.” – Dr. Steven Pearson, President, Institute for Clinical and Economic Review; Visiting Scientist, Department of Bioethics, National Institutes of Health
“There is a need for advocacy if we want cheaper treatment, both to drug manufacturers and to Congress.” – Dr. Donald Jenson, Director of the Center for Liver Diseases, University of Chicago
“We need efficiencies and innovation in pharmaceutical manufacturing that actually results in lower prices.” – Dr. Steve Miller, Senior Vice President and Chief Medical Officer, Express Scripts

Can the Market Help

View the full session from The Atlantic here.

Author Bio

Lab Staff
comments powered by Disqus