Latest Prescription drug costs News

Michigan AG seeks to probe Eli Lilly for high insulin prices

Jan. 26, 2022 21:27 PM EST

LANSING, Mich. (AP) — Michigan's attorney general said Wednesday she sought court approval to investigate Eli Lilly and Co., accusing the drugmaker of charging excessive prices for insulin medications used to treat diabetes. Dana Nessel's filings, submitted Tuesday, asked an Ingham...

Shkreli ordered to return $64M, is barred from drug industry

Jan. 14, 2022 15:39 PM EST

NEW YORK (AP) — Martin Shkreli must return $64.6 million in profits he and his former company reaped from jacking up the price and monopolizing the market for a lifesaving drug, a federal judge ruled Friday while also barring the provocative, imprisoned ex-CEO from the pharmaceutical industry for...

Biogen tumbles after Medicare lays out Aduhelm coverage plan

Jan. 12, 2022 17:05 PM EST

Shares of Biogen slid Wednesday, a day after federal regulators slapped coverage limitations on the drugmaker’s new Alzheimer’s disease treatment. The Centers for Medicare and Medicaid Services said Tuesday after markets closed that patients taking Biogen’s Aduhelm will have...

Medicare limits coverage of $28,000-a-year Alzheimer's drug

Jan. 11, 2022 20:45 PM EST

WASHINGTON (AP) — Medicare said Tuesday it will limit coverage of a $28,000-a-year Alzheimer’s drug whose benefits have been widely questioned, a major development in the nation’s tug-of-war over the fair value of new medicines that offer tantalizing possibilities but come with prohibitive...

Medicare told to reassess premium hike for Alzheimer's drug

Jan. 10, 2022 12:13 PM EST

WASHINGTON (AP) — U.S. health secretary Xavier Becerra on Monday ordered Medicare to reassess a big premium increase facing millions of enrollees this year, attributed in large part to a pricey new Alzheimer's drug with questionable benefits. Becerra's directive came days after...

Editorial Roundup: U.S.

Dec. 22, 2021 10:36 AM EST

Excerpts from recent editorials in the United States and abroad: Dec. 20 The Wall Street Journal on Sen. Joe Manchin rescuing the Democrats: Joe Manchin’s decision on Sunday to oppose the Build Back Better Act is a service to the country, sparing it...

Biogen cuts the price tag on its Alzheimer's drug in half

Dec. 20, 2021 10:25 AM EST

Biogen is slashing the price of its Alzheimer’s treatment in half months after it debuted to widespread criticism for an initial cost that could reach $56,000 annually. The drugmaker said Monday that it will cut the wholesale acquisition cost of the drug by about 50% next month....

Medicare urged to flex its power and slash back premium hike

Dec. 13, 2021 14:33 PM EST

WASHINGTON (AP) — The head of a Senate panel that oversees Medicare says the Biden administration should use its legal authority to cut back a hefty premium increase soon hitting millions of enrollees, as a growing number of Democratic lawmakers call for action amid worries over rising inflation....

$56K Alzheimer’s drug avoiding Biden’s cost curbs, for now

Dec. 08, 2021 12:54 PM EST

WASHINGTON (AP) — A new $56,000-a-year Alzheimer’s medication that’s leading to one of the biggest increases ever in Medicare premiums is highlighting the limitations of President Joe Biden’s strategy for curbing prescription drug costs. The medication known as Aduhelm would...

'Pharma Bro' firm reaches $40M settlement in gouging case

Dec. 08, 2021 11:19 AM EST

SACRAMENTO, Calif. (AP) — A company once owned by “Pharma Bro" Martin Shkreli will pay up to $40 million to settle allegations that it jacked up the price of a life-saving medication by roughly 4,000% after obtaining exclusive rights to the drug, the Federal Trade Commission announced Tuesday....