Navigation Links
PCMA Response to New York Times Article on Biotech Medicine Costs
Date:4/18/2008

WASHINGTON, April 18 /PRNewswire-USNewswire/ -- The Pharmaceutical Care Management Association (PCMA) issued the following statement today regarding a story to be published in tomorrow's New York Times:

"The New York Times has missed another opportunity to explain the real reasons behind increased spending on biotech medications. In the April 14, 2008 piece, 'Co-payments Soar for Drugs with High Prices,' the Times blames employers and plan sponsors for the high cost of biotech treatments. Then, in a piece dated tomorrow, 'Paid to Control Costs, Yet Pushing Some Prices Higher,' the Times blames high prices on those who dispense biotech products and manage related care. Meanwhile, both articles strangely downplay the role of those who actually set prices: the biotech manufacturers. They also ignore the fact that spending has increased because more patients have access to these life-saving medicines than ever before.

"Below are four fundamental issues the Times has either neglected or ignored:

-- First, the Times confuses those who price the biotech products (biotech manufacturers) with those who dispense them (specialty pharmacies). It's unfair to quote a source saying that benefit managers 'can raise prices at will' when manufacturers, not specialty pharmacies, set the prices for these products.

-- Second, the article virtually ignores that a key reason for high biotech prices is a legal loophole that protects biotech manufacturers from generic competition. Unlike traditional pharmaceuticals, there is no clear regulatory pathway for the FDA to approve generic versions of biotech products. For years, specialty pharmacies and pharmacy benefit managers (PBMs) have been fighting for legislation to allow biogenerics and competition to bring down biotech prices.

-- Third, the Times fails to report that more patients now have greater access to these products than ever before. That's good news, but it also costs more. Nearly 60 percent of the increase in spending on specialty biotech products last year was due to increased utilization, not price increases.

-- Fourth, the article distorts the role of limited distribution networks, which only apply to less than 2 percent of biotech prescriptions, specifically for treatments used by very small patient populations. These small populations often require extremely specialized care, such as infusions administered by highly trained nurses. This care prevents side-effects, reduces product wastage, and monitors possible inappropriate utilization.

Traditional wholesaler and retail networks are simply not equipped to provide this specialized and targeted care. To imply that limited distribution networks are somehow the cause of higher prices is grossly misleading.

In fact, the FDA requires that certain drugs be limited to one pharmacy due to special circumstances surrounding the medications."

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

Related medicine news :

1. Tumors use enzyme to recruit regulatory T-cells and suppress immune response
2. Study identifies key player in the bodys immune response to chronic stress
3. Retired NYPD Lieutenants William E. Keegan, Jr., Owen McCaffery and John Moran and Tom Thees, a former COO in the financial industry, announce today the formation of H.E.A.R.T (Healing Emergency Aid Response Team) 911.
4. Response Biomedical appoints S. Wayne Kay Chief Executive Officer
5. Merck & Co., Inc. Response to Todays New York Medicaid Suit
6. Maternal depression and controlling behavior associated with increased stress response in infants
7. Family history of alcoholism affects response to drug used to treat heavy drinking
8. Molecular fingerprint of breast-cancer drug resistance can predict response to treatment
9. Breast cancer susceptibility gene predicts outcome and response to treatment in lung cancer
10. PET scans can accurately detect a breast tumors response to chemotherapy
11. DNA damage response confers a barrier for viral tumorigenesis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... ... There are nearly 14.5 million people living with and beyond cancer in the ... 2016, communities around the world will gather to recognize these cancer survivors as part ... is an annual worldwide Celebration of Life that is held on the first Sunday ...
(Date:5/26/2016)... ... May 26, 2016 , ... An April Gallup survey found rising health care ... of Sun Health Senior Living (SHSL) may not share those same worries ... prescription copays for the year, while holding the line on increasing their contributions, including ...
(Date:5/26/2016)... ... May 26, 2016 , ... Eating Recovery Center, Washington ... opening a brand new child and adolescent residential treatment center on June 1. ... even more specialized eating disorder treatment and access to life-saving care. , To ...
(Date:5/26/2016)... New York, NY (PRWEB) , ... May 26, ... ... cell researcher, founder of Mehling Orthopedics and chief medical officer of Blue Horizon ... Musculoskeletal Disease and Regeneration. The conference was held during May 5-6, 2016 in ...
(Date:5/26/2016)... Robles, CA (PRWEB) , ... May 26, 2016 , ... ... bunion (also knowns as a bunionette) treatment was more than humbled by customer demand ... of one of their SKU's mid sale. Now that Bunion Bootie has completely replenished ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... as senior vice president of sales, announced Andrea Heslin Smiley , VMS president ... business development and sales team, exploring new opportunities for VMS to empower patients and ... ... ... ...
(Date:5/24/2016)... , May 24, 2016 ... Education in Clinical Neurophysiology  Elsevier , ... products and services, today announced the launch of ... open access journal that focuses on clinical practice issues ... case reports, clinical series, normal values and didactic reviews. ...
(Date:5/23/2016)... , May 23, 2016 Global ... 163 pages, profiles 12 companies and the Paclitaxel analysis ... figures on the industry and its players. ... comprehensive in nature, details the current state of the ... including definitions, classifications, applications and industry chain structure. The ...
Breaking Medicine Technology: