Good morning, everyone, and welcome to another working week, and a new year, as well. Like many, we disappeared for a spell but have now returned to the usual routine of online meetings, phone calls, and deadlines. This was inevitable, though, yes? So time to resume still another ritual by firing up the coffee kettle to brew a cup or two of stimulation. Our choice today is maple bourbon. Feel free to join us. Meanwhile, we are playing catch up and have assembled the latest list of interesting items. We hope your day is manageable and productive. And of course, please do continue to think of us when something noteworthy occurs. Our settings allow us to accept postcards and telegrams. …
Drugmakers plan to raise prices in the United States on more than 500 drugs in early January, Reuters tells us, citing data analyzed by health care research firm 3 Axis Advisors. Excluding different doses and formulations, more than 140 brands of drugs will have their prices raised this month, the data showed. The expected price hikes come as the pharmaceutical industry gears up for the Biden Administration to publish significantly discounted prices for 10 high-cost drugs in September, and continues to contend with higher inflation and manufacturing costs. Three companies are also expected to lower prices on at least 15 drugs in January.
The Biden administration seemed to be giving pharmacies a win when they forced pharmacy benefit managers to be more up-front about the behind-the-scenes fees they charge, but now pharmacies are afraid the transition to the new system as of Jan. 1 will lead to a cash flow crunch, STAT explains. In the past, PBMs could charge pharmacies performance-based fees long after the fact, and the total amount has grown in recent years. But now, PBMs will have to charge the fees up front. That means there will be a period for pharmacies when fees are still being billed from 2023, and 2024 bills are piling up, which could be particularly problematic for small, independently owned pharmacies.