Jared Hopkins
speaker
39 appearances
1 recordings
1 series
first heard Feb 2019
last heard Feb 2019
Jared Hopkins’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Drug Companies Say 'Don't Blame Us!' for Rising Prices · 6 Feb 2019
podcast
They basically have flipped the script, so to speak, and said,
They are saying that they don't actually benefit much from the list price increases and that it's their net prices that are suffering and they are blaming pharmacy benefit managers.
which, among other things, negotiate drug prices in secret and often determine which drugs might be accessible on formularies for patients.
Right, so it's unclear as to whether or not discounts are ultimately passed through to consumers.
It's something that the pharmacy benefit managers understand,
say is up to plans and up to PBM, but they say that it often does happen.
The drug makers, the branded drug makers say that the discounts are not passed along to the patients
enough and that there are too many incentives in the drug supply chain throwing all this off.
Some companies, such as AbbVie, which makes rheumatoid arthritis treatment Humira, which is the top-selling drug in the world, it can still generate sizable sales and generate enough gains through this net price increase.
It raised the price by less than 10% in January, but the company has said that both volume and pricing fueled its earnings in the fourth quarter.
But aside from AbbVie, not every company we know necessarily about
growing through price and volume.
And that's because while companies are disclosing their average net price, it's often across the entirety of the portfolio of the drugs and not on an individual drug basis.
Yeah, so the Trump administration recently
has proposed a rule that would limit the rebates paid to pharmacy benefit managers and the middlemen that essentially would limit the rebate in government programs.
It's significant partly because the government programs are so wide, so large.
that they often can be followed by private plans, private insurance.
So the drug industry is supportive of this.
Its main lobbying group is enthusiastically supporting it.
Many of the other players in health care are skeptical and want to see it play out or are opposed to it.
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