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Special Report: Big Pharma wages stealth war on drug price watchdog
by Caroline Humer
Reuters Translate This Article
11 September 2020
On 11 September 2020 Reuters reported:
As evidence grew this spring that the drug remdesivir was helping COVID-19 patients, some Wall Street investors bet on analysts' estimates that its maker, Gilead Sciences Inc, could charge up to $10,000 for the treatment.
Global Good News service views this news as the failure of modern business systems.
Such 'flops' highlight the need for more intelligent, evolutionary, Natural Law based, life-supporting systems.
Then a small but increasingly influential drug-pricing research organization, the Institute for Clinical and Economic Review (ICER), said the treatment only justified a price between $2,800 and $5,000. Shortly after, Gilead announced it would charge about $3,100 for a five-day treatment and $5,700 for ten days -- in line with the ICER recommendation.
The episode illustrates the growing power of the Boston-based nonprofit to hold down U.S. drug prices. Over the past five years, ICER has pressured drugmakers to lower the cost of nearly 100 drugs. ... The industry has moved aggressively to combat the threat to its profits in two ways: With open criticism of ICER's formula and with a stealthier campaign to undermine its credibility through proxies, including veterans' groups and organizations that claim to advocate for patients but have ties to the pharmaceutical industry, Reuters found in a review of industry connections and funding among groups targeting ICER.
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