And so, another working week will soon draw to a close. Not a moment too soon, yes? This is, you may recall, our treasured signal to daydream about weekend plans. We have a rather full agenda, in fact, that includes hanging with one of our short people, looking in on our Pharmalot ancestor, and escorting Mrs. Pharmalot to a musical happening. Then of course, we will promenade with the official mascots and, if time permits, cue up another listening party, where the rotation will likely include this, this, this, this and this. And what about you? Autumn is approaching so this may be an opportunity to ramble about apple orchards and pumpkin patches. Conversely, this is also a fine time to walk city streets and people watch. Or you could sit still for a while and catch up on your reading. Well, whatever you do, have a grand time. But be safe. Enjoy, and see you soon. …
U.S. Sen. Bill Cassidy (La.), a key Republican senator with seats on the health and finance committees, introduced a bill to let some small biotechs avoid Medicare price negotiations, STAT reports. The Inflation Reduction Act, one of President Biden’s signature legislative achievements, allows Medicare to negotiate prices after pills have been on the market for nine years, while biologics are protected for 13 years. The differential is supposed to account for the extra time that it typically takes to develop biologics, which are more complicated than small-molecule medicines. The IRA exempts some small biotechs from Medicare negotiation. However, that exemption expires after 2028, and it only applies to drugs that were on the market in 2021. His bill would exempt “research and development-intensive small biotech manufacturers” after the current exemption expires.
A price battle has broken out in the hot market for weight loss drugs, The Wall Street Journal says. Eli Lilly and Novo Nordisk, which sell the popular injections, are each dangling discounts to gain an edge and to induce health plans to pay up. The concessions are slashing as much as half off the price tags of the $1,000-plus-a-month medicines. For people who pay out of pocket, Lilly recently introduced vials of its drug Zepbound that cost as little as $399 a month. Price concessions are a new, major development in the burgeoning market for weight loss drugs, after high prices and limited supplies led many health plans to refuse coverage and prompted some patients to turn to lower-priced but unapproved custom-made versions. The moves could prod more health plans to begin paying for the medicines. That would help some workers who are clamoring for the drugs — but unable to afford them without health insurance — to finally be able to fill prescriptions.
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