Leader: Sunil Saksena
Drug Pricing–Tentative Discussion Outline for Dec 14, 2017
1.What is the evidence that drug prices in the US are too high?
2.Why are they high and how are prices set ? ( a brief case study to be presented by Charles Goodyear)
3.Pharmaceutical companies justify their prices as necessary to fund their high R and D expenses.—-the case for and against this argument.
4.what can be done to lower prices? What do other countries do? What can the US do?
5. What is an appropriate price for a drug? Is value based pricing appropriate and who decides?
The Problem Document that drug prices are higher in the US than anywhere else
Why are they higher and how are prices set ? Compare US with foreign countries
Pharmaceutical Cos justify high prices needed to support high R&D expenditure- the case for and against
What can be done to lower them? What do other countries do? In the US it seems a combination of modifying patent law, FDA approval process,some regulatory changes, allowing certain imports, and allowing Govt negotiated Medicare drug prices, could hel lower prices.
What is an “appropriate “ price for a drug? A value based approach. Who decides?
The High Cost of Prescription Drugs in the United States
Origins and Prospects for Reform
IQ2US: Health care costs in the U.S. are some 18 percent of GNP, nearly double what other rich countries spend. We read of drug therapies that cost $100,000 a year or more, and of drug price increases that are 6 times the rate of inflation, on average, and often much more when mergers reduce competition in the industry. Is this a major driver of excessive health care costs? Or is it a by-product of the huge costs of getting new drugs approved? Has big pharma delivered drugs that reduce the need for costly surgeries, which extend life and improve its quality? Or do they deserve the blame that has been leveled against them?
An article about how and why some drugs are less expensive paying cash vs through insurance: