Mass. bill would force drugmakers to defend prices

[unhappycamper]

http://www.bostonherald.com/business/healthcare/2015/08/mass_bill_would_force_drugmakers_to_defend_prices

Mass. bill would force drugmakers to defend prices
Tuesday, August 11, 2015
Marie Szaniszlo

The pharmaceutical and insurance industries are going head to head over a bill that would make Massachusetts the first state to limit certain drug prices.

The proposed legislation would force drugmakers to defend their prices by revealing how much they spend on research, development and marketing, and would permit the state Health Policy Commission to cap the prices of some of the most expensive drugs.

“It would be an important step in increasing transparency,” said Eric Linzer, senior vice president of public affairs and operations at the Massachusetts Association of Health Plans. “It would provide an opportunity for policymakers and employer consumers to look at significant increases in drug prices at a time when the state is working to contain costs.”

The bill comes amid a backlash against drug prices, which can reach into the hundreds of thousands of dollars annually. A year’s supply of Boston-based Vertex Pharmaceuticals’ new cystic fibrosis drug, for example, costs $259,000.

[PatrickforO]

1. Just four words: MEDICARE FOR ALL AMERICANS

[beac]

2. As ever, the pharmaceutical companies cry poor when confronted with their outrageous prices.

Yet, somehow, they can afford to let their drug reps pay for lunches for entire doctors' offices every day of every week. They probably spend $100K a WEEK (and that is a very, VERY conservative estimate) just buying sandwiches for doctors (and every member of their staff!) that they pitch to. I know because I used to work for a company that was tangentially involved in selling food to drug reps. Some reps spend $20 PER PERSON for really fancy meals if they are pushing a premium drug. Nevermind the boondoggle "conferences" they host at resorts and all the other bribery disguised as "marketing."

And the irony of the consumer-gouging insurance industry scolding another group over their pricing is also rich.

Still, I am proud that MA might be the first in the nation to address another important issue.