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Prescription drugs

Prescription drugs

Pet Prescription Drug Market size, increasing diversity of trends, analysis, future scope analysis with major key industry players by 2026

The primary objective of the Animal Drugs market report is to determine the performance of the industry over the anticipated time frame to help stakeholders to make informed decisions and action plans that will ensure long term success . The document highlights all the factors that favor the growth of this vertical, followed by counter-approaches to the major challenges facing companies. In addition, it includes the changes in this vertical due to the Covid-19 pandemic and highlights the best opportunities for the future.

Key points of the impact assessment of Covid-19:

  • Impact of Covid-19 on the economic scenario on a global scale.
  • Changes in the share of supply and demand.
  • Predictions of the long-term effects of the Covid-19 pandemic on the growth matrix.

An overview of the regional landscape:

  • Geographically, the pet prescription drug market is divided into North America, Europe, Asia-Pacific, South America, Middle East & Africa, Southeast Asia.
  • The contribution of each region to the overall growth of the industry is measured in the study.
  • An analysis of the revenue, sales and growth rate for key regions during the forecast period is also provided.

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Other important takeaways from the Pet Prescription Drugs Market report:

  • The report categorizes the pet prescription drug market product landscape into oral type, smear type, injection type and spray type.
  • Sales and volume share estimates for each product category are provided.
  • The study also highlights the market share, growth rate and production pattern of each type of product over the forecast period.
  • In terms of the scope, the Animal Prescription Drugs market is fragmented into Pets, Livestock, geographically, the detailed production and trade analysis of the following countries is covered in Chapter 4.2, 5: United States, Europe, China, Japan and India.
  • The market share guaranteed by each application segment along with their growth rate forecast is discussed in detail in the report.
  • The main companies that are setting trends in the pet prescription drug market are Ceva Sante Animale, MSD Animal Health, Ourofino Saude Animal, Dechra, Virbac, Boehringer Ingelheim, Vetoquinol, Zoetis, Animalcare Group and Elanco Animal Health.
  • Listed companies are analyzed on the basis of their gross margins, production models, product and service portfolio, pricing model, market compensation and market share.
  • Major competitive trends and their implications for businesses are comprehensively elaborated.
  • Granular industry supply chain analysis, with details of key manufacturers, suppliers and consumers is included.
  • The feasibility study of a new project using several methodologies such as SWOT analysis and Porter’s five forces analysis is provided in the document.

Reasons to access this report:

  • Know the opportunities and plan strategies by having a solid understanding of the investment opportunities in the Animal Prescription Drugs market
  • Identification of key parameters driving investment opportunities in the prescription animal drugs market
  • Facilitate decision making based on solid historical and forecast data
  • Position yourself to make the most of the industry’s growth potential
  • Develop strategies based on the latest reports.
  • Identify key partners and avenues for commercial development
  • Respond to your competitor’s business structure, strategy and outlook
  • Identify the main strengths and weaknesses of important market players

The key questions answered by this report:

  • What will the market size and growth rate be during the forecast year?
  • What are the key factors driving the global pet prescription drugs market?
  • What are the risks and challenges facing the market?
  • Who are the major vendors in the global pet prescription drugs market?
  • What are the trend factors influencing market shares?
  • What are the main results of Porter’s five forces model?
  • What are the global opportunities for expanding the global pet prescription drugs market?

Important point mentioned in the Research report:

  • Market overview, market dynamics, market growth etc. are cited in the report.
  • The power and commercial output of major manufacturers have been mentioned along with the technical data.
  • The study provides historical market data with revenue forecast and forecast from 2020 to 2025.
  • This report is a valuable asset for existing players, new entrants and future investors.

Table of Contents for Market Share by Application, Research Objectives, Market Sections by Type, and Forecast Years Considered:

Pet Prescription Drugs Market Share by Major Players: Here, the analysis of capital, revenues and prices by the company is included along with other sections such as development plans, areas served, products offered by major players, alliance and acquisition. and seat distribution.

Global growth trends: Industry trends, growth rate of major producers, and production analysis are the segments included in this chapter.

Market Size By Application: This segment comprises an analysis of the Animal Prescription Drugs market consumption by Application.

Pet Prescription Drugs Market Size By Type: It includes analysis of product value, utility, market percentage and production market share by type.

Manufacturer profiles: Here, the major players of the global Animal Prescription Drugs Market are studied on the basis of sales area, key products, gross margin, revenue, price, and production.

Animal Medicines Market Value Chain Analysis and Sales Channels: It includes analysis of customers, distributors, market value chain and sales channels.

Market Forecast: This section focuses on production and production value forecast, forecast of key producers by type, application and regions

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Prescription drugs

The Incredibly High Price of Prescription Drugs national news

Insulin is a medical wonder, saving the lives of millions of people who would otherwise die of diabetes. It can also be prohibitively expensive, going up to $ 300 a vial for newer versions of the treatment, which patients with diabetes need two to three times per month.

For patients with less common ailments, the sticker shock can be much worse. Do you have a small child with spinal muscular atrophy, a rare genetic condition that weakens muscles, causes movement problems over time and can be fatal? The good news is that the Food and Drug Administration in 2019 approved a drug, Zolgensma, a one-off curative therapy. The bad news is that it costs over $ 2.1 million – and may not be covered by insurance – making it the most expensive drug in the world.

The prices of prescription drugs in America are a constant source of frustration, anger and bewilderment among patient-consumers. Why are some drugs so expensive – and why are some pills significantly more expensive than the same drug sold overseas? Who decides the price of prescription drugs – and how do you make them affordable without stifling the innovation and research that has produced the miracle cures patients enjoy today?

Political cartoons about Congress

Congress is grappling with this problem now, examining provisions of the “Build Better” bill that seek to reduce the burden on consumers by capping the co-payments patients are supposed to cover and annual out-of-pocket expenses in some cases. circumstances. As is is currently written, the measure would allow Medicare to negotiate drug prices – something the government was specifically prohibited from doing when Medicare Part D, the prescription drug benefit for the elderly, was created in 2003.

The new measure would also impose a tax penalty if drug companies raised prices more than inflation, capped insulin co-payments to $ 35 per month, and capped out-of-pocket expenses for the elderly at $ 2,000 for the elderly. drugs covered by Medicare.

Many Democrats have portrayed the battle as a battle between helpless patients and drugmakers chasing dollars. Republicans say efforts to set prices, even in a roundabout way, will discourage the development of the very treatments that save lives.

“The public truly have a love-hate relationship with the pharmaceutical industry. They appreciate and appreciate the role of the pharmaceutical industry” in developing treatments that change and save lives, Mollyann Brodie, Executive Vice President of health research group Kaiser Family Foundation said in a webinar this week. “On the other hand, they also think the industry is too profit-oriented and the profits are too high.”

The industry, represented by the powerful Pharmaceutical Research and Manufacturers of America (PhRMA), certainly has its bogeymen. Chief among them is Martin Shkreli, the so-called “pharmaceutical brother” who sparked anger in 2015 when his company, Turing Pharmaceuticals, increased the price of a life-saving drug, Daraprim, from $ 13.50 to $ 750 per tablet. (Shkreli is in prison for security fraud. Turing and his parent company agreed wednesday to pay $ 40 million to settle a case alleging stealing from patients).

But pharmaceutical companies have also developed critical therapies and groundbreaking research in diseases ranging from cancer to Alzheimer’s disease. They may have saved humanity through the rapid development of vaccines (and a possible new treatment) against the COVID-19 virus.

But why are some drugs so expensive? And what can be done to make therapy more affordable?

The answer is much more complicated than it looks, experts say. And the solutions aren’t as straightforward as viewing the manufacturers as the sole source of the problem.

“Everyone likes to find the bad guys,” says Wayne Winegarden, director of the Center for Medical Economics and Innovation at the Pacific Research Institute. Aside from some known bad actors (like Shkreli), “there is no bad guy here. We have a really bad health care system that incites all kinds of crazy behavior,” Winegarden says.

Drug prices, experts explain, are determined by various players. A manufacturer sets an “introductory price” – which will usually be higher if it is a new treatment or a breakthrough treatment. An intermediary, called the Pharmacy Benefit Manager, then negotiates discounts and rebates with manufacturers for the drug, which they then provide to pharmacies, doctors and hospitals.

But Pharmacy Benefit Managers don’t necessarily pass the discount on to patients, says Leslie Dach, president of the healthcare reform group Protect Our Care. They also don’t reveal how much of the rebate they got, so patients don’t know what the true cost is.

Insurance may very well cover a particular drug, explains Dach. But since the co-payment is based on the original manufacturer’s price – not the lower negotiated cost paid by the Pharmacy Benefit Manager – the patient ends up paying more.

“Everything here is a black box,” he says.

Pharmacies are also at an impasse, says Douglas Hoey, CEO of the National Community Pharmacists Association. Pharmacy Benefit Managers – three of whom, he says, control 80% of the market – are “incredibly powerful with health care providers.” Intermediary companies can, for example, refer patients to pharmacies in the network and say to pharmacies: “If you do not take our prices, we will refer this patient elsewhere”.

This means that even when the initial cost of a drug goes down, a patient may not see the benefit. A report by Milliman, commissioned and released this week by PhRMA, found that the net price of insulin in 2021 was, on average, 84% lower than the list price due to discounts, rebates and other payments. But experts note that a decrease in the net and reduced price does not necessarily mean that the patient’s co-payment will be lower. The study singled out Pharmacy Benefit Managers, saying that companies “have been found to favor products with high list prices and large discounts over lower list price equivalents,” with “unintended consequences” for them. patients whose co-payment is based on the original list prices.

The Pharmaceutical Care Management Association, which represents Pharmacy Benefit Managers, blamed the manufacturers, noting that the high prices start there.

“Ironically, the industry that controls the list price of prescription drugs has tried to point the finger at those who focus on reducing the cost of prescription drugs to patients and payers,” the group said in a statement.

It’s true that manufacturers set original prices, says Rena Conti, professor at Boston University, associate research director of biopharmacy and public policy at the university’s Institute for Health System Innovation and Policy. . But she says the answer isn’t simply to penalize the profitable industry.

“There are a lot of very misaligned incentives that create a lot of headaches for real people at the pharmacy counter,” said Conti, who is due to testify on the matter before a House committee on Friday. “We are also the beneficiaries of a very robust pharmaceutical industry that is actually bringing new products to market, some of which are really transforming our lives. “

“The point here is not to punish but rather to really think about how we might have the opportunity to realign the incentives,” she adds. For patients paying thousands of dollars or more for essential medicines, this change cannot come soon enough.

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Prescription drugs

Prescription drug price hikes are slowing, but many patients say costs are still crippling

An Oregon law passed in 2018 requires drug companies and health insurers to file data with the state on prescription drug prices. Each year in December, this information is compiled into a report and released to lawmakers and the public.

In a virtual hearing on Wednesday, state officials gave an overview of some highlights of the 2021 report.

Numi Lee Griffith is Senior Policy Advisor at the Department of Consumer and Business Services. She said the data shows a sharp reduction in price increases reported in recent years.

“What we have seen is that there has been a decrease in the number of price increases,” she said, “as well as a decrease in the magnitude of the price increases”.

Griffith suggested that this is at least in part because drugmakers launched newer drugs at a higher price to begin with, so they have to report fewer increases to state officials later.

But according to testimony at the hearing, even with the easing of average price increases, people facing serious illnesses in the state are still struggling to afford their treatment.

Joan Morgan is part of the Oregon Coalition for Affordable Prescriptions. She said her father’s cancer drug had gone from an already unaffordable $ 4,000 to $ 10,000 a month. The only saving grace, she said, was a brother who brought the same medicine from Europe, where it cost $ 243.

“Think about it just for a second,” Morgan told the hearing panel lawmakers. “Do the math. Because it blows my mind even after we’ve been doing this for years.”

Other data highlights from the 2021 annual report include:

  • There were 193 new “expensive” drugs reported. These are drugs that are priced at wholesalers $ 670 or more for a 30 day supply.
  • The most expensive drugs in this group were the cancer chemotherapy drugs Abecma and Breyanzi, produced by Bristol-Meyers Squibb. They cost $ 419,500 and $ 410,300 respectively.
  • State data shows that, by far, cancer treatments make up most of the new high-cost drugs introduced.
  • 71 drugs reported annual price increases, the largest of which was a 778% increase for a generic drug from Nostrum Labs.
  • The average price increase for generic drugs was 27%, 13% for brand name drugs

The 2021 Prescription Drug Price Transparency Report is expected to be released on December 15.

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Prescription drugs

ASHP wants to stop white bags on prescription drugs

The American Society of Health-System Pharmacists (ASHP) is working to end a practice known as “white bagging,” officials said.

White bagging is when a payer demands that providers can only source drugs from a limited selection of specialty pharmacies affiliated with the payer. In white sachets, pharmacies in the health system receive these drugs from specialized pharmacies which they must then dispense to patients. Typically, as part of the purchasing and billing system, pharmacies in the health system maintain their own inventories and prepare medications based on physicians’ electronic health records.

“We believe ASHP is compromising patient care,” said Kyle Robb, PharmD, state policy and advocacy associate at ASHP, during a presentation at the company’s virtual meeting in mid-year. White bags blind clinicians and hospitals to drug supply chains, can lead to delays in care and compromise electronic medical records, he added.

“White bagging has really emerged and gained momentum over the past couple of years,” noted Tom Kraus, MHS, vice president of government relations at ASHP.

In March, the ASHP and the American Hospital Association co-signed a letter to the FDA asking the agency to enforce the Drug Supply Chain Security Act (DSCSA) – which required that electronic chain histories supplies are maintained for all prescription drugs. until this drug is delivered to the patient – with the aim of ending the white bags.

“Our main argument with the FDA is that white bagging fundamentally bypasses the DSCSA,” Robb said. The DSCSA was adopted in 2013 in response to a meningitis outbreak in several states caused by contaminated steroids made at a compounding pharmacy in Massachusetts.

As part of white bagging, specialty pharmacies do not share transaction information with vendors, which means hospitals do not know the supply chain history of white bagged drugs. he explained.

However, the FDA has yet to take regulatory action regarding the white bags, Robb said.

The ASHP saw more state-level action for the first time this year, he noted. Prior to 2021, no state had white bag legislation, and only one state had introduced a bill in 2020. So far this year, 11 states have introduced white bag bills. Three states – Louisiana, Arkansas, and Virginia – have passed laws.

Louisiana’s law was passed in June and ensures that plans cannot refuse to pay a provider for the provision of clinician-administered drugs and cannot punish patients with additional fees, according to Robb. The law also requires that drugs in white sachets from specialized pharmacies be accompanied by a history of transactions.

In Arkansas, the new legislation takes a different approach to preventing white bags: it only applies to hematology and oncology patients, although the Arkansas Insurance Commissioner may extend the covered conditions. This law states that payers must cover both medical and pharmaceutical benefit channels, and that patients and providers can choose the billing channel that works best for them.

In Virginia, plans must allow unprivileged pharmacies to dispense drugs covered at network rates and cannot increase costs for patients who use unprivileged pharmacies. The Virginia Board of Pharmacy has also passed regulations on the storage and tracking of white bagged medications.

  • Lei Lei Wu is a news intern for Medpage Today. She is based in New Jersey. To follow

Disclosures

Robb and Kraus did not report any financial disclosures.

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