Cancer drug spending is up. Cancer drug prices are way up. And as a new Express Scripts report shows, spending on each cancer patient is mounting; it's among the reasons why a growing number of individual patients account for $100,000-plus in annual drug spending. And a few big drugs made big contributions to that rise.
Pay for performance is a byword in executive pay. It's not unprecedented in pharma, what with European cost watchdogs and their hard line against pricey cancer meds. But it's not part of the drug-coverage equation in the U.S.--for now.
A small but growing number of patients is racking up big drug bills in the U.S. On a per-patient basis, it's staggering: Some 576,000 Americans generated more than $50,000 in prescription drug costs each last year, according to a report from Express Scripts. And nearly 140,000 of them totted up drug bills of $100,000 or more.
U.S. patients are racking up big annual drug costs like never before. According to a report from the pharmacy benefits manager Express Scripts, more than a half-million patients in the U.S. had medication costs of more than $50,000 last year, up by 63% from 2013 totals. And the number who used more than $100,000 worth of drugs grew even more--to 139,000 in 2014 from 47,000 in 2013.
An Express Scripts unit agreed to settle claims with the U.S. Department of Justice that it participated in a scheme with Novartis that ended in improper government reimbursements. And if the DOJ has its way, the settlement could lead to more legal action against Novartis in a separate suit.
Express Scripts has been warning about a crackdown on cancer drug spending. Now, it's talking about how.
The good news for drugmakers, after UnitedHealth agreed to buy Catamaran: You might need fewer staffers to negotiate with pharmacy benefits managers, now that 1 billion U.S. scripts a year will be controlled by three players.
Express Scripts' annual report on drug spending contains juicy stats, some surprising, some not so much. For the educated eye, the Express Scripts report offers numbers to back up a variety of trends--and news stories--that hit the pharma business in 2014.
U.S. prescription drug spending shot up 13.1% last year, according to a new report from Express Scripts. And the vocal price critic says it knows just who's to blame.
Steve Miller of Express Scripts, the nation's largest pharmacy benefit manager, joins FierceBiotech Radio to discuss the future of drug pricing, the impending debut of biosimilars in the U.S. and how he got into the PBM business.