Prescription-drug prices continue to seize headlines this election season. Recent drug-pricing scandals—involving EpiPen and Daraprim, older medicines used to treat asthma and malaria, respectively, as well as high list prices for new medicines to counter hepatitis C and cholesterol—seem to offer ammunition to critics who charge that drug manufacturers prioritize profits over patients.
But how are drug prices in the U.S. actually determined? Are the forces of competition being fully harnessed to yield positive results for patients? And how is high-deductible insurance, accelerating fast under Obamacare, affecting access to critical medicines?
Federal drug regulations greatly influence drug-pricing decisions: for example, they mandate deep discounts for public-insurance programs, such as Medicaid, but can also discourage drug manufacturers from entering into innovative “pay-for-performance” contracts with private health insurers. Other regulations limit manufacturers’ ability to exchange useful information with insurers and health-care providers—information that could lead to better patient outcomes at lower cost. FDA regulations reduce competition, too, driving up the time it takes new medicines to reach market.
Please join Manhattan Institute for a health-care symposium, as distinguished experts discuss the forces driving drug pricing in America—and explore promising new approaches for making medicines more affordable for patients.
Paul Howard, Director and Senior Fellow, Health Policy, Manhattan Institute
Mr. Howard is a contributor to The Apothecary, the Forbes blog on health care policy and entitlement reform, and a regular columnist for The Morning Consult. He has written on a wide variety of medical-policy issues, including FDA reform, biopharmaceutical innovation, consumer-driven health care, and Medicare and Medicaid reform. He is often quoted on health care issues, and his work has appeared in such publications as Bloomberg View, Wall Street Journal, National Affairs, USA Today, RealClearPolitics, New York Post, Investor’s Business Daily,Health Affairs, and FoxNews.com. He is a member of MI’s Project FDA.
Alex Azar, President, Eli Lilly USA
Mr. Azar, II has been President of Lilly USA LLC at Eli Lilly and Company since January 1, 2012. Mr. Azar served as Vice President of Business-to-business & Puerto Rico of Eli Lilly & Co since April 1, 2009. He served as Senior Vice President of Corporate Affairs & Communications at Eli Lilly & Co. from June 2007 to April 2009. He led Eli Lilly & Co.’s teams that are responsible for international, federal, and state government affairs, public policy planning
Rena Conti, Assistant Professor, Health Policy and Economics, University of Chicago
CURRENT RESEARCH ACTIVITIES:
Proof of Paradigm in Cost-Effectiveness Analysis with Novel Therapeutics
Did the Medicare Modernization Act Cause Oncology Drug Shortages?
SPARQ/Center for Health Administration Studies
Alliance NCORP R
Adam Fein, PhD, CEO, Drug Channels Institute, Pembroke Consulting
Dr. Fein is the president of Pembroke Consulting, Inc., a management advisory and business research firm based in Philadelphia. He also is the CEO of Pembroke’s Drug Channels Institute, a leading management educator for and about the pharmaceutical industry. Dr. Fein is one of the country’s foremost experts on pharmaceutical economics and the drug distribution system. Top manufacturers call on Dr. Fein’s insights and judgment, to create successful commercial strategies and make better strategic decisions in our evolving healthcare environment.
Glen Stettin, MD, Chief Innovation Officer, Express Scripts
Dr. Stettin heads up clinical products, Consumerology, the Therapeutic Resource Centers, specialty, channel, trend and formulary management, as well as integrated health solutions. Dr. Stettin earned his bachelor and medical degrees through Lehigh University and the Medical College of Pennsylvania and completed his residency in internal medicine at the University of California, San Francisco, where he also served as medical chief resident at Moffitt-Long Hospital, fellow in cardiology and Robert Wood Johnson Foundation Clinical Scholar at UCSF and Stanford University.