Navigation Links
PCMA: Skyrocketing Biotech Prices Challenge Employers, Consumers
Date:4/14/2008

WASHINGTON, April 14 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) issued the following statement in response to today's article in The New York Times on skyrocketing biotech prices:

"Americans currently spend $50 billion on biotech products and will spend $100 billion within a few years. The reason biotech drugs have such high prices is because they don't face generic competition once their patents expire. The absence of generic biotech products is a huge challenge for payors since the branded products can cost hundreds of thousands of dollars annually."

"Monopoly pricing of biotech products is wrong. Fortunately, there is a public policy solution: legislation that would establish a clear FDA pathway for approval of generic biotech products or biogenerics."

PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.


'/>"/>
SOURCE Pharmaceutical Care Management Association
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1

Related medicine news :

1. PCMA: CMS Releases Proposed E-Prescribing Standards in Medicare
2. PCMA: New Study on Independent Pharmacy Reimbursements Will Raise Eyebrows on Capitol Hill
3. PCMA: New CBO Analysis Confirms Independent Pharmacy Collective Bargaining Legislation Increases Costs for Consumers and Payors
4. PCMA: 2008 Health Debate Highlights Workable Solutions Like E-Prescribing
5. PCMA: Independent Drugstore Lobbys Prompt Pay Agenda Could Cost Medicare $3.3 Billion Over the Next Decade
6. PCMA: Protect Your Pharmacy Week Should Focus on Safeguarding Part D Anti-Fraud Tools
7. Infertility Doctors: Genetic Disease Detection is Skyrocketing, Could Reshape Medicine
8. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
9. Biotech Finishes on a High in August, Burrill Report Says
10. Oncolytics Biotech Inc. reports positive interim results of UK phase Ia/Ib trials
11. Spectrum Pharmaceuticals to Present at the Biotechnology Industry Organization Investor Forum
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Medicine Technology:Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 2Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 3Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 4Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 5Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 6Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 7Reportlinker Adds Radiation Therapy Equipment - A Global Market Review 8Particle Sciences and IES Engineers Cooperate on High Potency Compound Handling Capabilities 2Particle Sciences and IES Engineers Cooperate on High Potency Compound Handling Capabilities 3Global Announces Contract To Acquire New Business 2Wound Management Technologies Inc Announced Today That It Has Reached an Agreement in Principal to Acquire BioPharma Management Technologies Inc 12648 1Wound Management Technologies Inc Announced Today That It Has Reached an Agreement in Principal to Acquire BioPharma Management Technologies Inc 12648 2Carbon Design Innovations Inc Introduces Carbon Nanotube Probe Technology for Atomic Force Microscopy CNT Probes Deliver New Level of AFM Imaging P 12645 1Carbon Design Innovations Inc Introduces Carbon Nanotube Probe Technology for Atomic Force Microscopy CNT Probes Deliver New Level of AFM Imaging P 12645 2Carbon Design Innovations Inc Introduces Carbon Nanotube Probe Technology for Atomic Force Microscopy CNT Probes Deliver New Level of AFM Imaging P 12645 3Finances Trigger American Reluctance to Spend More on Healthier Foods 49018 1Finances Trigger American Reluctance to Spend More on Healthier Foods 49018 2
Other Medicine Technology:Biomira Selects PX-866 as Clinical Development Candidate and,Presents Promising Preclinical Data at AACR 2Biomira Selects PX-866 as Clinical Development Candidate and,Presents Promising Preclinical Data at AACR 3Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 2Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 3Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 4Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 5Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 6Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 7Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 8Randomized Phase III Trial Showed Erbitux Significantly Improved,Secondary Endpoints of Progression-Free Survival and Disease,Control in Metastatic Colorectal Cancer Patients 9