PhRMA

A new FTC interim report underscores how pharmacy benefit managers (PBMs) profit at patients’ expense and drive up medicine costs.    The report details how PBMs: ➡️ steer patients to pharmacies they own ➡️ control what medicines are covered and what patients pay for them ➡️ reduce competition and push out independent pharmacies ➡️ pocket rebates meant for patients  

Americans are calling on policymakers to address harmful practices by insurers and pharmacy benefit managers (PBMs) that limit access to new medicines and treatments. A recent Morning Consult/PhRMA poll of over 20,000 Americans across all 50 states and 435 congressional districts reveals that 8 in 10 Americans are concerned that: - PBMs profit off of financial assistance that is intended to help patients afford the medicine they need, or block people from using this assistance altogether. - PBMs influence what medicines patients get and control what patients pay at the pharmacy. It's clear Americans want real solutions that hold big insurers and their PBM middlemen accountable for making it harder for patients to get the care they need. Dive into the poll's key findings below.

Treatments for Alzheimer’s can mean more to patients and caregivers than just slowing down the disease. They can mean more time to do things on their own and more conversations with friends, kids and grandkids. Chris Leibman, SVP, Value, Access, Public Policy and Government Affairs at Biogen, shares the value of these therapies with our COO Lori Reilly: https://lnkd.in/eyTEu8rD

In recent years, there have been major treatment advances in oncology – but, with cancer claiming millions of lives each year, there is still significant need for innovation to address the greatest needs of patients.   How can we as a biopharmaceutical company protect the innovation ecosystem to support and promote discovery of novel therapies? Daniel Asch, Vice President of the Oncology Franchise weighs in on the transformative potential of cancer care at #PeopleVCancer. Watch here: https://bit.ly/4chTz4h PhRMA

The IRA’s price setting provisions could result in 3.5 million Medicare patients facing higher out-of-pocket costs in 2026 – undermining the benefits of the new out-of-pocket limit for millions of seniors and people with disabilities. More: https://lnkd.in/dvF2qJdM

Alzheimer’s disease is a devastating illness that gradually robs a person of everything they hold dear. Recently, Lori Reilly spoke with Shobha Dhadda of Eisai US about the life-changing impact new treatments could have on patients and caregivers. Watch the full conversation: https://lnkd.in/eZ-Gcx5X

"They are called pharmacy benefit managers. And they are driving up drug costs for millions of people, employers and the government."    Below, The New York Times exposes the abusive tactics of PBMs, reporting on how they control patients’ access to meds, pocket patient savings, and drive up costs.

"Science is vital to getting new Alzheimer's therapies to market. But the public policy environment plays a critical role in whether those medicines actually ever do get to the patient." Watch more from Eli Lilly and Company's Anne White and PhRMA's Lori Reilly: https://lnkd.in/eJMDwRfE

The CBO's report that increasing Hep C treatments would save billions continues to demonstrate the long-term value of medicines. These are the same cures insurers once falsely claimed would bankrupt the system. This data speaks to a bigger story of how payers continue to share a misleading narrative about the cost of new, innovative medicines. Insurers use these scare tactics to restrict & deny coverage to patients. As we've seen with Hep C and other treatments, these claims are false. Read more about the CBO report: https://lnkd.in/ePjf3HiH And more on insurers' misleading narratives here: https://lnkd.in/ex9nWFfS

Today, 62 biopharmaceutical researchers met with policymakers across Capitol Hill to discuss the impact of policies that support R&D, as well as how America’s unique innovation ecosystem has resulted in faster access to more treatments for patients. More: https://lnkd.in/ekUBx_hD