Democratic mega-win - drug price negotiation results

[Pogo]

My dad was prescribed Eliquis but he couldn't afford it. Thankfully there was a "fake" Eliquis which he could afford, and he did so. He still died but he had missed several doses that week.

There isn't actually a generic for Elliquis at present, There are alternatives such a Warfarin (Rat Poison) that are cheaper and the manufacturers have all sorts of discounts to make it seem like they are good guys, It is covered by Medicare until you hit the donut hole then you are on your own till catastrophic coverage kicks in.
The list in the US is ~$700 per month though you can get it somewhat illegally from overseas suppliers for as low as $75 per month. Medicare pays something in the middle and apparently will be less in 2026.

 

[Spice]

That's good but its gets old with politicians putting things off until it benefits them.
This benefits them by votes.
Dont kid yourself. If election year was three years away, so would that in the OP be three years away.

Things like this that benefit the people shouldn't be put off until election time then done to use it to get votes. Politics is bad about that.

Like no taxes on tips from Trump and Harris.
Why didnt Trump do it when he was pres?
Why doesn't Harris do it now? Why hasn't she already done it since 2021?

Its all about votes. If you vote for me I will.....

This has been in the news for a while. I don't recall when I first heard about it, but it was when insulin hit an outrageous price. And also it's been long enough that Trump tried to take credit for the first successful negotiations.

 

[Spice]

There isn't actually a generic for Elliquis at present, There are alternatives such a Warfarin (Rat Poison) that are cheaper and the manufacturers have all sorts of discounts to make it seem like they are good guys, It is covered by Medicare until you hit the donut hole then you are on your own till catastrophic coverage kicks in.
The list in the US is ~$700 per month though you can get it somewhat illegally from overseas suppliers for as low as $75 per month. Medicare pays something in the middle and apparently will be less in 2026.

Let's clarify -- that's Medicare Advantage or Medicare Supplement. Basic Medicare pays $00 for prescriptions outside of inpatient care.

 

[We Never Know]

The US has indeed paid far too much, because Big Pharma lines the pockets of politicians who support them -- mostly, of course, Republican.

Hmmm.

"Between the 2016 and 2022 election cycles, the top 10 pharma firms gave $29 million to Democrats and just $24 million to Republicans, according to an analysis by the group Conservatives for Lower Healthcare Costs obtained by The Post...

Democrats have taken in $7.16 million — compared to Republicans’ $7.05 million — from companies that deal in “pharmaceutical/health products” during the 2023-2024 cycle, according to OpenSecrets, whose analysis was current as of Oct. 18, 2023...

In the 2022 cycle, this donation dichotomy from “pharmaceutical/health products” saw roughly $24 million going to Democrats and just under $16 million earmarked for Republicans, per OpenSecrets..."

Dems raking in more cash from Big Pharma than GOP despite drug price crackdown

Despite the constant howling from progressives and efforts to curb drug prices, the pharmaceutical industry appears to opening up its deep pockets more to Democrats than Republicans.

nypost.com

 

[Pogo]

Let's clarify -- that's Medicare Advantage or Medicare Supplement. Basic Medicare pays $00 for prescriptions outside of inpatient care.

I sit corrected, it is the basic insurance policy that we are saddled with.

 

[We Never Know]

There isn't actually a generic for Elliquis at present, There are alternatives such a Warfarin (Rat Poison) that are cheaper and the manufacturers have all sorts of discounts to make it seem like they are good guys, It is covered by Medicare until you hit the donut hole then you are on your own till catastrophic coverage kicks in.
The list in the US is ~$700 per month though you can get it somewhat illegally from overseas suppliers for as low as $75 per month. Medicare pays something in the middle and apparently will be less in 2026.

A generic version of Eliquis has been approved by the FDA. However, this does not mean that the product will necessarily be commercially available - possibly because of drug patents and/or drug exclusivity

apixaban tablet;oral​

• Manufacturer: ACCORD HLTHCARE
  Approval date: July 28, 2020
  Strength(s): 2.5MG [AB], 5MG [AB]
• Manufacturer: HETERO LABS LTD V
  Approval date: November 21, 2023
  Strength(s): 2.5MG [AB], 5MG [AB]
• Manufacturer: INDOCO
  Approval date: September 11, 2020
  Strength(s): 2.5MG [AB], 5MG

Generic Eliquis Availability - Drugs.com

Generic drug availability, manufacturer information, and patent status on Eliquis

www.drugs.com

FDA approves first generics of Eliquis​

FDA approves first generics of Eliquis

The U.S. Food and Drug Administration today approved two applications for first generics of Eliquis (apixaban) tablets.

www.fda.gov

 

[Subduction Zone]

My dad was prescribed Eliquis but he couldn't afford it. Thankfully there was a "fake" Eliquis which he could afford, and he did so. He still died but he had missed several doses that week.

And this is why pharmaceuticals need to be more heavily regulated than they are.

Perhaps drugs should be all generic from day one with a very hefty reward going to the company that discovered and developed them with an option of being continually paid a fee by various governments for as long as their drug was useful.

They still need to make money. They still need to make a profit. but making those that often have the lowest ability to pay for life saving drugs seems to be exceptionally immoral.

In other words they would earn a huge "finders fee" for solving a problem, but the making and selling of the drug would be open to everyone once discovered.

 

[F1fan]

If that's what you think it takes to make them cheaper. Me I think it just takes paying the price it actually costs to produce and distribute.

Medicine should not be for profit imo.

Yeah. I can't believe some of the lower cost drugs are still outrageous. I think there ought to be a limit of profits for life saving and essential drugs, but charge all you want on Viagra and vanity drugs. Maybe we should treat drug research like a science and give grants to do the research, and the motivation can be be helping sick people, not making money.

 

[Pogo]

A generic version of Eliquis has been approved by the FDA. However, this does not mean that the product will necessarily be commercially available - possibly because of drug patents and/or drug exclusivity

apixaban tablet;oral​

• Manufacturer: ACCORD HLTHCARE
  Approval date: July 28, 2020
  Strength(s): 2.5MG [AB], 5MG [AB]
• Manufacturer: HETERO LABS LTD V
  Approval date: November 21, 2023
  Strength(s): 2.5MG [AB], 5MG [AB]
• Manufacturer: INDOCO
  Approval date: September 11, 2020
  Strength(s): 2.5MG [AB], 5MG

Generic Eliquis Availability - Drugs.com

Generic drug availability, manufacturer information, and patent status on Eliquis

www.drugs.com

FDA approves first generics of Eliquis​

FDA approves first generics of Eliquis

The U.S. Food and Drug Administration today approved two applications for first generics of Eliquis (apixaban) tablets.

www.fda.gov

And until it becomes available it is not available. They may well be licensing production but that is different.

"generic for eliquis available

Eliquis was approved by the U.S. Food and Drug Administration (FDA) in 2012 as a brand-name drug. Although a generic was approved in 2019, generic apixaban will not be available on the market until at least April 2028.
https://www.singlecare.com/blog/eli...as approved by the,until at least April 2028.

Eliquis generic availability, cost, and dosage - SingleCare​

singlecare.com
https://www.singlecare.com › blog › eliquis-generic"

 

[Subduction Zone]

Yeah. I can't believe some of the lower cost drugs are still outrageous. I think there ought to be a limit of profits for life saving and essential drugs, but charge all you want on Viagra and vanity drugs. Maybe we should treat drug research like a science and give grants to do the research, and the motivation can be be helping sick people, not making money.

Well not Viagra. Or Sialis. Those are necessary medications!!

Actually those have very affordable generic versions. The same drug, just without the fancy brand name. Drugs that are "needed" but not for life saving purposes, will become affordable due to current laws. No need to change the laws for them. But yes, something has to be done for drugs that are life saving.

 

[We Never Know]

And until it becomes available it is not available. They may well be licensing production but that is different.

"generic for eliquis available

Eliquis was approved by the U.S. Food and Drug Administration (FDA) in 2012 as a brand-name drug. Although a generic was approved in 2019, generic apixaban will not be available on the market until at least April 2028.
https://www.singlecare.com/blog/eliquis-generic/#:~:text=Eliquis was approved by the,until at least April 2028.

Eliquis generic availability, cost, and dosage - SingleCare​

View attachment 95770
singlecare.com
https://www.singlecare.com › blog › eliquis-generic"

Did you miss this part of my post?

"However, this does not mean that the product will necessarily be commercially available - possibly because of drug patents and/or drug exclusivity"

 

[Heyo]

No industry or entity is capable of self policing.

Guilds have been policing their own for centuries, especially when it comes to quality of products and education. They had their own problems with democracy and enforced guild membership is also worth discussing, but there was definitely an element of self-control.

 

[Pogo]

Did you miss this part of my post?

"However, this does not mean that the product will necessarily be commercially available - possibly because of drug patents and/or drug exclusivity"

No, I just provided a little more information.

 

[Heyo]

This bad news. It means there will be upcoming shortages, squelching of new products coming to market and negatively affect patients not getting needed medicine. To put it succinctly, price fixing doesn't work. The market will do what the market should. Leave it alone.

Is that why we in "socialist" Europe have shortages in medicines and no R&D in pharma?
/s

(Remember who came up with the first Covid vaccine?)

 

[sun rise]

I see @Shaul has not continued to comment. But as a followup to his comment "let the market decide", a monopoly is not a market. An oligopoly (a few suppliers) sometimes can be but we've seen "follow the leader" on price hikes in various fields. So in the drug industry having 2 or 3 sellers for a particular drug or family makes prices higher than they should be. When it comes to diabetes drugs. Prices of Expensive Diabetes Medicines and Weight-loss Drugs Are Drastically Higher Than Production Costs it is inhuman.

And ripping off Americans for cheap to produce essential for life drugs is simply inhuman because it puts maximizing profit ahead of human lives. Those who think that having people suffer and die so that a very few companies can make big profits is what we have now. And if you want to claim that it's needed for new drugs, present a P&L/Balance Sheet for a big Pharma company showing that all those profits go to R&D and not excessive salaries for C-Suite types.

 

[Shadow Wolf]

The invisible hand is there. The Market can and does deal with putative "greedy" suppliers. But only if the Market is not inferred with. The better solution than price fixing, which never works, is to eliminate restrictions on competition and crony capitalism.

Except that never works. The market has no self regulating or self correcting mechanisms as advertised. Informed consumers do not keep things in check, it's so terrible at this that it took legislation and wars to end slavery because these market forces wouldn't.

 

[Kathryn]

And this is why pharmaceuticals need to be more heavily regulated than they are.

Perhaps drugs should be all generic from day one with a very hefty reward going to the company that discovered and developed them with an option of being continually paid a fee by various governments for as long as their drug was useful.

They still need to make money. They still need to make a profit. but making those that often have the lowest ability to pay for life saving drugs seems to be exceptionally immoral.

In other words they would earn a huge "finders fee" for solving a problem, but the making and selling of the drug would be open to everyone once discovered.

Well, for a start, all of their expenses would need to be paid.

 

[Kathryn]

There isn't actually a generic for Elliquis at present, There are alternatives such a Warfarin (Rat Poison) that are cheaper and the manufacturers have all sorts of discounts to make it seem like they are good guys, It is covered by Medicare until you hit the donut hole then you are on your own till catastrophic coverage kicks in.
The list in the US is ~$700 per month though you can get it somewhat illegally from overseas suppliers for as low as $75 per month. Medicare pays something in the middle and apparently will be less in 2026.

I don't know what he took or didn't take to be honest. All I know is that it wasn't Warfarin and that his doctor even asked if he missed several doses the week he died (he did). At the time, Eliquis was $3000 a month, which is insane.

 

[wellwisher]

The drug companies of course hate this with a "purple passion" and the Republicans will do anything their bosses the oligarchs tell them when it comes to economics because profits are their God and Bible but this won't kill reasonable profits but the benefit to us is notable and will help millions https://www.politico.com/news/2024/08/15/cms-releases-prices-for-10-negotiated-drugs-00174021


View attachment 95734

The problem is casino science and Government regulations make it a long winded and therefore expensive process to development new drugs. It take years of sales to pay back the R&D expenses due to the black box approach in both science and regulatory. These still high prices reflect this. Unless you also get rid of Government Regulation and update away from casino science, future drugs will not be profitable and the industry will stall here. This is the final update.

I liked the way Trump did it with the drugs for COVID, which were developed at an accelerated rate. He was able to by pass the slow boat regulatory process of Big Government, due to the urgent need. The cost savings made it faster and cheaper until it was free. Then again COVID drugs were for a wide range of people; everyone, while these over prices drugs; above, are for small groups, therefore there is less demand and need for the high price. The high cost of R&D, with far fewer people to help absorb the regulatory costs, makes it very expensive. Going forward there is no money in niche drugs.

Tampering with the free market never ends well. I already heard Big Government is working on increasing Medicare premiums. This is where the so called cost savings are passed on to the consumers, who do not even use these drugs, further hurting the middle class. Whatever the DNC touches goes to crap.

It remains me of the transgender scam, where a new $ multibillion industry has appeared who caters to a very small percent of the population. This industry had the money to payoff DNC politicians, to promote this in schools to expand the market at the expense of children. The cost is pass off to everyone else; taxes, while the DNC politicians get a donation for helping with the non-free market scam. One of the Industry leaders estimated that if they can get all who think they trans; 1.5 million, to use the drugs and surgery this could be a $100 billion industry. Most now are opting out, so the DNC con machine is trying to make the trans change look rosy, since the future kickbacks have huge potential. Then they pretend they care.

 

[Pogo]

I don't know what he took or didn't take to be honest. All I know is that it wasn't Warfarin and that his doctor even asked if he missed several doses the week he died (he did). At the time, Eliquis was $3000 a month, which is insane.

Which is the argument for taxation supported single payer health care, We are the only major western country that leaves it up to each individual to pay for their health care a system that literally can lead to the death of the individuals if they are not so lucky as to have the means to pay creating a system of haves and have nots. To further stratify the system we have the system set up to bankrupt the individual if they needed a service but couldn't afford it or afford to join a risk management group, further cementing their poverty.