From 09 Aug: An organization representing PBMs (powerful drug middlemen) said that banning an industry practice would lead to “higher costs and fewer choices,“ but to support it, the organization points to analysis that didn’t reach the conclusion that it claimed. - https://ohiocapitaljournal.com/2023/08/08/drug-middlemen-say-ohio-law-raises-prices-then-they-admit-they-dont-know/ #pbms #healthcare #pharmaceutical #economics

Two things that should drive #DrugPrices down – #PBMs and #biosimilars – aren't really working that way. Could it be that our health systems are tuned for profiteering?https://conscienhealth.org/2023/04/biosimilars-and-pbms-the-jokes-on-us/

"Even as Lilly promotes its altruism, this move may actually save it money, said health care analyst Sean Dickson. A federal rule taking effect next year penalizes companies that charge Medicaid high prices, especially for older, branded drugs. Lowering the list price of Humalog would allow Lilly to pay significantly less in rebates to government Medicaid programs that buy the drug."

https://khn.org/news/article/insulin-costs-pharmacy-benefit-managers-drug-manufacturers/?_hsmi=249472902&_hsenc=p2ANqtz-9AuF-gwLHRSBvlEWmHCcAbo_NIx3HzSpgZaq_35q5nJaEahFDYlBD3J9Zb3PoL67Lx2xOM5DYzctnxm6726lGERrA0kw

#healthcare #drugs #PhRMA #PBMs

@tanyatussing
During my years of medical practice, I viewed #PBMs -- pharmacy benefit managers -- as useless middlemen. Worse than useless actually, destructive. They made profits by gaming a broken #UShealthcare system, providing no value to anyone except themselves.

In short, as a practicing physician, I wished PBMs would disappear completely and thought US healthcare would be better without them. Full stop.

PBMs likely to be a focus in 118th Congress — FDA reports initial 'no signal' for stroke risk with Pfizer boosters — Celularity warns 'substantial portion' of staff about possible layoffs after reviewing cell therapy strategy -- See more on our front page news http://bit.ly/w28kSd #congress #drugpricing #pbms #fda #stroke #vaccines #pfizer #boosters #covid #covid19 #layoffs #pharma #pharmanews #biotech #biopharma #biotechnology #cafepharma

a feel good story from the @washingtonpost https://www.washingtonpost.com/lifestyle/2023/01/19/alabama-farmer-hody-childress-prescriptions/

still, a pox on the pharmacy benefit managers #PBMs followed by insurance companies and big PhrMa that makes this a feel good story in the first place

BioNTech buys UK AI start-up InstaDeep in £562mn deal — JPM23: Gilead, Takeda, Pfizer, Moderna and more —The Big Three PBMs’ 2023 formulary exclusions: observations on insulin, Humira, and biosimilars -- See more on our front page news http://bit.ly/w28kSd #biontech #artificialintelligence #ai #mergersandacquisitions #jpm23 #jpm2023 #pfizer #moderna #takeda #gileadsciences #formulary #humira #pbms #biosimilars #pharma #pharmanews #biotech #biopharma #biotechnology #cafepharma

in between I started a game of Atlantis: New Origins which is a #pbem and therefore runs at breakneck speed in comparison to #pbms: two turns a week.

Pharmacy-benefit managers, or #PBMs, have captured a growing slice of huge drug spending during past decade.
More than 30 million Americans, or about 10% of the country, have #diabetes, and more than 7 million of them require daily #insulin
Most expensive insulin in world has some diabetics rationing their insulin, a dangerous practice, due to high cost.

https://www.wsj.com/articles/elon-musk-bernie-sanders-and-others-miss-the-mark-over-pricey-insulin-11669000489