Excessive Drug Costs Could Cause Price Caps

Gilead Sciences’ drug, Sovaldi, which treats hepatitis C, is currently on the market for $1,000 per pill. The high cost raises questions on whether government should regulate the cost of the life-saving drug and others of it’s kind, according to an article in Modern Healthcare.

Sovaldi has proven to be a very effective treatment, with a cure rate of more than 80%. The problem is the cost to insurers and patients: a 12-week treatment costs $84,000.

Karen Ignagni, president and CEO of America’s Health Insurance Plans, agrees something needs to be done.

“We need to sit together to begin talking about how we can attack this problem together before the government has to. We cannot sustain six-figure therapies and we’re at the beginning of that trend,” she said in the article.

Representatives of the pharmaceutical industry are quick to point out the high costs of developing these life-saving drugs. John Castellani, president and CEO of Pharmaceutical Research and Manufacturers of America, feels the FDA approval process needs updating.

“It costs on average $1.2 billion, and takes 10 to 12 years to get a drug to market. We have to modernize the discovery process. We can only be as innovative as our regulator,” said Castellani.

Ignagni, however, believes pharmaceutical companies should decrease pricing to avoid governmental intervention.

“Manufacturers are charging whatever they can get away with,” Ignagni said. “We can’t have a system that operates that way. We can’t sustain it. Talking about price is often akin to calling fire in a crowded room. No one wants to do it until they have to,” she said.

Please read the Entire Article by Paul Demko here.

ClaimLinx specializes in consulting individuals and businesses on ways to save money on prescriptions. Depending on the dose and drug, we can find a program that may reduce your costs by as much as 50%. Did you know there are many patient assistance programs that go unused every year because people don’t know about them? Employers and individuals can benefit from taking advantage of these programs saving both the company and employees thousands of dollars in medical costs.  Many programs are available online with coupons or filling out a simple form.  We can navigate you through the process to get the maximum benefit cost savings.  Contact us today if you think you are paying too much for prescriptions.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s