![]() ![]() "Value" is also a word Celgene uses when asked about its price increases. The company responded to an email saying it limits prices increases to no more than once a year at a level no greater than the projected increase in national health expenditures, which was 5.3 percent in 2018. Hugin's spokesman, Megan Piwowar, said that as a senator, he would "stop the system from discriminating against the sickest Americans and advocate for payment systems based on value." The super PAC is primarily funded by a hedge fund manager and his wife, "megaphilanthropists" who set up a foundation to promote cheaper prescription drugs, among other things. He said there would be a generic version on the market today if Celgene had cooperated with generics makers. "They're raising prices not necessarily because they've given something new to society, but because they can."ĭavid Mitchell, the founder of Patients for Affordable Drugs Action, took Revlimid to treat multiple myeloma. "Companies with monopoly positions have the ability to raise prices year after year, quarter after quarter, even, with impunity, and Medicare is required to pay - even some private insurers are required to pay," Sachs said. Under the guise of patient safety, this is really about preserving a monopoly position," said law professor Rachel Sachs, who teaches at Washington University in St. "They're resorting to tactics the FDA criticized. After he came under attack in ads funded by Patients for Affordable Drugs Action over the price of Revlimid, Hugin's campaign released its own ad highlighting the story of a man whose 6-year-old son had a cancerous brain tumor and was told that his insurance company would not cover Revlimid. Hugin's campaign said Celgene spent "hundreds of millions of dollars to ensure affordable access" to drugs by patients who could not afford them. Once generics hit the market, Hugin said, the price of name-brand drugs "are going to near zero," while the public continues to benefit from their discoveries for decades to come. Senate race update: Groups that take unlimited cash get nasty early in Menendez-Hugin raceĦ months down: Phil Murphy still learning how to win friends and influence lawmakersĬompanies that develop drugs, Hugin says, need to be able to recoup their investments, fund research into new treatments and make a profit while they have commercial protection from competition. ![]() In 2016, I think, pharmaceutical expenditures went up 1.6 percent, co-pays went up 30 percent." "Over the last three or four years, copays and coinsurance have risen. "We have allowed plan design to put the burden on patients unfairly," Hugin said. All taxpayers end up paying more in that case." ![]() "The way drug benefits work in Medicare Part D, the higher the drug price, the faster you get to the point where Medicare pays more. They pay close to $1,000 a month for one set of pills, and they need to take it for the rest of their life," Dusetzina said. "People who need to take the drug, a lot of them are on Medicare. The company cut the price of Revlimid by 45 percent last year in Russia at the same time it raised prices 20 percent in the United States, NJ Advance Media reported on Sunday. Since Revlimid was approved in 2005, she said, the cost of a 30-day supply grew from about $8,000 to $19,000. "Revlimid is a very good example people pull out when pointing to problems with changes in drug prices," said Stacie Dusetzina, a health policy expert at Vanderbilt University Medical Center. Celgene makes several drugs to treat cancer, including Revlimid, which treats a type of blood cancer called multiple myeloma. ![]()
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