Showing archive for: “Health Care”
When Past Is Not Prologue: The Weakness of the Economic Evidence Against Health Insurance Mergers
I just posted a new ICLE white paper, co-authored with former ICLE Associate Director, Ben Sperry: When Past Is Not Prologue: The Weakness of the Economic Evidence Against Health Insurance Mergers. Yesterday the hearing in the DOJ’s challenge to stop the Aetna-Humana merger got underway, and last week phase 1 of the Cigna-Anthem merger trial ... When Past Is Not Prologue: The Weakness of the Economic Evidence Against Health Insurance Mergers
What’s next for the pharmaceutical industry?
On November 9, pharmaceutical stocks soared as Donald Trump’s election victory eased concerns about government intervention in drug pricing. Shares of Pfizer rose 8.5%, Allergan PLC was up 8%, and biotech Celgene jumped 10.4%. Drug distributors also gained, with McKesson up 6.4% and Express Scripts climbing 3.4%. Throughout the campaign, Clinton had vowed to take on ... What’s next for the pharmaceutical industry?
A “social contract” for the drug industry
Mylan Pharmaceuticals recently reinvigorated the public outcry over pharmaceutical price increases when news surfaced that the company had raised the price of EpiPens by more than 500% over the past decade and, purportedly, had plans to increase the price even more. The Mylan controversy comes on the heels of several notorious pricing scandals last year. Recall ... A “social contract” for the drug industry
Critics of health insurance mergers misapply the evidence and misinterpret the market
As regulatory review of the merger between Aetna and Humana hits the homestretch, merger critics have become increasingly vocal in their opposition to the deal. This is particularly true of a subset of healthcare providers concerned about losing bargaining power over insurers. Fortunately for consumers, the merger appears to be well on its way to ... Critics of health insurance mergers misapply the evidence and misinterpret the market
U.S. Food and Drug Administration (FDA) Reforms Needed to Promote Path-Breaking Biopharmaceutical Innovation
Yesterday the Heritage Foundation published a Legal Memorandum, in which I explain the need for the reform of U.S. Food and Drug Administration (FDA) regulation, in order to promote path-breaking biopharmaceutical innovation. Highlights of this Legal Memorandum are set forth below. In recent decades, U.S. and foreign biopharmaceutical companies (makers of drugs that are based ... U.S. Food and Drug Administration (FDA) Reforms Needed to Promote Path-Breaking Biopharmaceutical Innovation
Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
I’d like to begin by discussing Geoff’s post on the pending legislative proposals designed to combat strategic abuse of drug safety regulations to prevent generic competition. Specifically, I’d like to address the economic incentive structure that is in effect in this highly regulated market. Like many others, I first noticed the abuse of drug safety ... Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
Senator Lee’s prescription for regulatory failure in the generic drug market
Brand drug manufacturers are no strangers to antitrust accusations when it comes to their complicated relationship with generic competitors — most obviously with respect to reverse payment settlements. But the massive and massively complex regulatory scheme under which drugs are regulated has provided other opportunities for regulatory legerdemain with potentially anticompetitive effect, as well. In ... Senator Lee’s prescription for regulatory failure in the generic drug market
Time to Confront Bias Against Patent Owners in Patent “Reform” Legislation like the VENUE Act
Last March, I published an op ed in the the Washington Times on the proposed VENUE Act, a recently introduced bill taken wholesale from a portion of HR 9 (the tendentiously titled “Innovation Act”). HR 9 has rightly stalled given its widespread and radical changes to the patent system that weaken and dilute all property rights ... Time to Confront Bias Against Patent Owners in Patent “Reform” Legislation like the VENUE Act
More proposed market interventions to control drug costs
Last week, the Campaign for Sustainable Rx Pricing (CSRxP)—whose membership includes health insurance companies and other health payors, health providers, and consumers—proposed various reforms aimed at addressing the high costs of prescription drugs. CSRxP declares that their proposals will improve the functioning of the pharmaceutical market by increasing pricing transparency, promoting competition, and enhancing value. Although ... More proposed market interventions to control drug costs
A Presidential Nod to Procompetitive Regulatory Reform: Substance, not Mere Symbolism, is Needed
On April 15, President Obama issued Executive Order 13725, “Steps to Increase Competition and Better Inform Consumers and Workers to Support Continued Growth of the American Economy” (“the Order”). At first blush, the Order appears quite promising. It commendably (1) praises competitive markets as a cornerstone of the American economy, and (2) sets the promotion ... A Presidential Nod to Procompetitive Regulatory Reform: Substance, not Mere Symbolism, is Needed
The Obama Administration’s Latest Attack on IP Rights Threatens the Development of Innovative Biologic Drugs
The Obama Administration regrettably continues its campaign to weaken intellectual property (IP) rights, moving beyond antitrust policy (see articles by me, here and here) to the realm of substantive legislation. In his fiscal year 2017 budget proposal, President Obama proposed to reduce the period of exclusivity granted producers of “biologic” drugs from twelve to seven ... The Obama Administration’s Latest Attack on IP Rights Threatens the Development of Innovative Biologic Drugs
Competition, not Price Controls
In an effort to control drug spending, several states are considering initiatives that will impose new price controls on prescription drugs. Ballot measures under consideration in California and Ohio will require drug companies to sell drugs under various state programs at a mandated discount. And legislators in Massachusetts and Pennsylvania have drafted bills that would create new government commissions ... Competition, not Price Controls
