Understanding how intrinsic intellectual property (IP) is to the United States economy (innovative industries support more than a quarter of all jobs in the U.S.), the Office of the U.S. Trade Representative (USTR) each year releases the Special 301 Report, which details the trade barriers that exist with our trading partners and places certain countries on designated “watch lists.”
According to the Centers for Disease Control and Prevention, one in three American adults has high cholesterol. For those struggling with high cholesterol, getting needed prescriptions and adhering to the prescribed treatment regimen is critical. As Peggy, a Georgia widow with high cholesterol noted, Medicare Part D has relieved the stress of having to decide between purchasing vital medicines or food, and as a result, she can now treat her chronic condition consistently.
I am excited to be in India this week to discuss the scientific landscape of pharmaceutical research and development. Everywhere I go I see so much potential for India to become a leader in the discovery and development of innovative medicines. India has a large cadre of well-trained pharmaceutical scientists and has more U.S. FDA-approved pharmaceutical facilities than any other foreign country. This country is ripe for growth in discovering and developing new medicines, not only for the people of India but others around the world.
For 50 years, the PhRMA Foundation has supported young scientists in their efforts to pursue careers in research and education that will ultimately lead to improved care and treatment options for patients. With our continued commitment to this goal in mind, I’m excited to announce the launch of the Foundation’s new web platform, www.phrmafoundation.org, which offers new resources on our competitive research grants and fellowships in the most challenging areas of drug discovery.
Managing diabetes treatments is a big task. Medicare Part D helps patients access needed medicines, keeps costs low and helps avoid costly hospitalizations and complications. According to Betty, a mother of five from California, she can afford her diabetes prescriptions thanks to Part D and feels more secure as a result.
The internet provides us with a wealth of information right at our fingertips, but it’s important to be mindful of misinformation, especially as it pertains to your health. With myths and facts swirling about important health topics this week, we cut through the clutter to bring you the facts.
Last year, PhRMA was joined by patient groups to highlight an analysis that found a majority of plans in health insurance exchanges required relatively high cost sharing for all medicines in at least one class. The cost burden leaves many patients with no other option, forcing them to make tough choices or go without needed medicines, ultimately having a negative impact on their health.
Last week, Food and Drug Administration (FDA) Commissioner Margaret Hamburg announced that she will step down from her post at the end of next month.
When a Medicare Part D beneficiary adheres to their prescription regimen, both the individual and the broader health care system benefit. The Congressional Budget Office (CBO), for example, now estimates increasing the number of Part D prescriptions filled by just 1 percent reduces program spending on medical services by approximately 0.20 percent. The cost savings are even greater for seniors with certain chronic conditions. Today, we’re looking at congestive heart failure.
According to a new report from actuaries Gabriela Dieguez, Bruce Pyenson and Jennifer Carioto, at Milliman, major pharmacy benefits managers (PBMs) often overestimate future spending on specialty medicines, sometimes by nearly 10 percentage points.