Drug Prices Keep Rising Despite Efforts To Reduce Out-Of-Pocket Costs

Michael Baudin of Manchester retired eight years ago after a career in auto repair, but now the 76-year-old is back working part time as a driver so he can afford prescription medications. “Every year premiums go up and my co-pay is increasing,” he said. “I take medication for cholesterol, hypertension, heart, prostate and digestion. My wife quit her job due to health issues and her medication is expensive too.”

Baudin says his out-of-pocket cost for a 90-day supply of just one drug, Creon from AbbVie Inc., which he takes for digestion, is $100. The drug does not have a generic equivalent.

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Disclosure Rules Don’t Stem Flow Of Pharma Cash To State’s Doctors

Dozens of Connecticut doctors accepted six-figure payments from drug and medical device manufacturers in 2015 for consulting, speaking, meals and travel, with six of the 10 highest-paid physicians affiliated with academic institutions, new federal data show. The top 10 doctors – less than 0.1 percent of the 11,000 who received payments – took in $3.6 million, or nearly 15 percent of the total $24.9 million paid out. Among them is the dean of the Yale School of Medicine, Dr. Robert Alpern, who received $445,398 in 2015 from two companies – Abbott Laboratories and AbbVie – in consulting fees, meals and travel expenses for serving on the boards of both companies. In 2014, he received $458,194 from the two companies. The Yale medical school began a research partnership with AbbVie in 2013, after the pharmaceutical company spun off from Abbott Laboratories.

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