Historic FDA Approval May Help Lower Drug Costs

AARP applauds the FDA’s approval of the first biosimilar prescription drug product in the U.S. It is a welcome step toward a workable approval process that will provide consumers with much-needed access to safe, effective biosimilar drugs, as envisioned by the Biologics Price Competition and Innovation Act in the Affordable Care Act. Today’s announcement marks the beginning of what AARP hopes will be a robust market that will offer consumers access to lower-cost alternatives to very expensive biologic medicines, such as those …

Pay-for-Delay Agreements and Prescription Drug Costs

  Brand-name pharmaceutical companies can delay generic competition by paying a generic competitor to hold its competing product off the market for a certain period of time. These “pay-for-delay” agreements benefit both parties: the brand-name manufacturer can continue to charge monopoly prices, and the generic company is compensated for its inaction. The Federal Trade Commission (FTC) estimates that pay-for-delay agreements cost American consumers $3.5 billion per year. The Justice Department has challenged these agreements as anti-competitive and the Supreme Court …

Study: Older People to See Lower Rates Under Health Law

By Julie Appleby, Senior Correspondent, Kaiser Health News How the federal health law will affect premiums is among the most asked – and most controversial – questions in the final months before new rules kick in requiring most Americans to carry coverage. A white paper out Wednesday considers how the law will affect premiums for people who buy their own coverage because they don’t get it through their jobs. The answer?  It all depends, said the analysts at the Kaiser …