Once Medicare can negotiate, how much would I cut the list price of Top 10 drugs that Medicare spends a lot of money on?
90%.
Even if you slash prices by 90%, these drugs will still be far more expensive than in India (for same drug or generic).
90%.
Even if you slash prices by 90%, these drugs will still be far more expensive than in India (for same drug or generic).
Forget India.
Take Europe. For #1 drug on the list Eliquis look at cost difference below. You could cut the price by half and the drug will still be twice as expensive in the US. Why Medicare should negotiate. statista.com/statistics/113…
Take Europe. For #1 drug on the list Eliquis look at cost difference below. You could cut the price by half and the drug will still be twice as expensive in the US. Why Medicare should negotiate. statista.com/statistics/113…
What about Revlimid the #2 drug we spend the most money on?
Well it’s about $18,000 a month in the US. $115 in India and you choose from ~18 generics.
But it’s not just India. See below. statista.com/statistics/123…
Well it’s about $18,000 a month in the US. $115 in India and you choose from ~18 generics.
But it’s not just India. See below. statista.com/statistics/123…
Need I talk about insulin? Two of the drugs on the list are insulins. Lists 10 times more in the US than other countries. The Senate bill caps the price to $35 for Medicare. But the proposal to do the same for private insurance was blocked. #Insulin4All rand.org/blog/rand-revi…
So am I glad Medicare can now negotiate. Yes.
We are starting slow. Starting 2026, 10 drugs that have been on the market for a long time and cost Medicare a lot. And then add 15-20 each year.
Other developed countries do it at launch for all new drugs.
We are starting slow. Starting 2026, 10 drugs that have been on the market for a long time and cost Medicare a lot. And then add 15-20 each year.
Other developed countries do it at launch for all new drugs.
Medicare negotiation is important for many reasons. It will help the public get affordable meds.
It doesn’t matter how good your drug is if it is not affordable.
It doesn’t matter how good your drug is if it is not affordable.
https://twitter.com/vincentrk/status/1550889353970417664
So when you hear Pharma protest that Medicare negotiation will hurt innovation they mean it will hurt profits.
If you can make a lot of $$ as long as your drugs squeaks past the competition & that’s the bar you have to cross, it’s easy to see why negotiation will cause concern.
If you can make a lot of $$ as long as your drugs squeaks past the competition & that’s the bar you have to cross, it’s easy to see why negotiation will cause concern.
It’s not only important to negotiate prices once. Then they can increase the price year after year like they have done so far. This phenomenon is unique to the US.
So I welcome capping price increases that is part of the new bill.
So I welcome capping price increases that is part of the new bill.
https://twitter.com/vincentrk/status/1555203655791509513
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