Reuters reports that the European Commission has started an in-depth investigation of Bayer’s planned $66 billion takeover of U.S. seeds group Monsanto, saying it was worried about competition in various pesticide and seeds markets. The deal would create the world’s largest integrated pesticides and seeds company, the Commission said, adding this limited the number of competitors selling herbicides and seeds in Europe. If the deal goes through, the newly merged company will be one of the largest agrochemical firms in the world and could put 90 percent of the world’s food supply in the hands of only four multinational corporations.
Faced with competition, some pharmaceutical companies are cutting deals with insurance companies to favor their brand-name products over cheaper generics, reports Pro Publica and The New York Times. Insurers pay less, but sometimes consumers pay more. Out of public view, corporations are cutting deals that give consumers little choice but to buy brand-name drugs — and sometimes pay more at the pharmacy counter than they would for generics. The practice is not easy to track, and has been going on sporadically for years. But several clues suggest it is becoming more common.
MASSPIRG, Health Care For All, Health Law Advocates and others urged the Massachusetts Legislature’s Joint Committee on Health Care Financing to support S.652, An Act to promote transparency and prevent price gouging of pharmaceutical drug prices. The bill requires pharmaceutical manufacturers to disclose detailed information on the underlying cost components and pricing of the most expensive drugs including costs of production, R&D, marketing, rebates and discounts, and prices charged to purchasers outside of the U.S., among other information. The bill also authorizes intervention by state health care agencies and the Attorney General’s Office when pricing practices are determined to be gouging or unjustified. “Skyrocketing prescription drug prices are leading to higher health care costs for Massachusetts residents,” said Deirdre Cummings, Legislative Director at MASSPIRG. “In fact, according to an analysis of state data we submitted as testimony to the committee, rising pharmaceutical prices have a disproportionately high impact on Massachusetts health care premiums.”
Ten of Canada’s largest pharmaceutical companies, reports Toronto’s Globe and Mail, have revealed that together they spent at least $48.3-million on payments to physicians and health-care organizations last year, a voluntary disclosure that critics of Big Pharma say falls well short of genuine transparency. The figures provided a peek into how drug makers compensate Canada’s physicians for consulting, delivering speeches, sitting on advisory boards and traveling to international medical conferences. But the companies did not name any of the doctors, nor did they reveal the total number of physicians they paid or the amounts they provided to doctors for running clinical trials.
Many journalists are aware of the drug industry’s attempts to gain positive attention by buying placement within the nation’s health care news. A few occasionally write or talk about it, as Harder and Rosenthal did publicly. But, writes Gary Schwitzer in Health News Review, we don’t talk often enough about why it matters if health care industry entities are allowed to advertise within, or sponsor, health care journalism content. Americans spend more than $3 trillion on health care. Conflicts of interest in health care and research are rampant. But who talks about conflicts of interest in health care journalism? There is a great potential harm in journalists – and the audience they serve – becoming numb to the presence of and influence of drug companies and other industry entities in the news and information disseminated to the public. In a three part series, Health News Review examines this problem. Read Part 1. Read Part 2.
Nassau County on Long Island filed a lawsuit Monday against several pharmaceutical companies, alleging their prescription painkillers helped fuel the opioid epidemic that costs the county millions of dollars annually to combat, reports the Wall Street Journal. The complaint, filed in Nassau County Supreme Court, targets several companies including Teva Pharmaceutical Industries Ltd., Purdue Pharma LP and Janssen Pharmaceuticals Inc. The defendants also include drug distributors and doctors.
After the national outrage over EpiPen’s increase of the price of a box epinephrine injections to $609 last August, Mylan, the manufacturer, promised to live up to its motto of doing what’s right, not what’s easy. But, writes Charles Duhigg in The New York Times, last week regulators said the company had most likely overcharged Medicaid by $1.27 billion for EpiPens and the retail price of a box was still $609. The device contains about $1 of the drug epinephrine.