Photo above – "No Mas! No Mas!" Bristol Myers Squibb has surrendered, and agrees to cut the price of it's most expensive drugs by more than half, saving patients and Medicare billions annually.
If you’re like me, you DON’T need to take Eliquis. It’s a blood thinner for people at risk of stroke and heart attack. And it costs $6,000 a year. Rather, it costs Medicare, Medicaid, and private insurers $6,000 a year, if you’re covered. If you’re not covered, you pay out of pocket. The Biden administration just cut the price of this drug in half. Kudos team Biden! See link below.
Credit goes to some anonymous wonks in the west wing. Biden couldn’t tell you what Eliquis is, or what it does. Neither could Kamala, but I’m sure she’ll find a way to start taking credit for this in her incessant campaign advertising on TV.
TV advertising for Eliquis is probably the reason it was costing $6,000 a year. Those ads were also incessant. On the evening news every night – all networks. The strategy was to scare sick people into calling their doctors and asking about Eliquis. A medicine which those doctors are already aware of. Including the outrageous price, and some lower cost alternatives. But if you call your doctor, and you’re covered by Medicare, they'll prescribe it evidently.
Eliquis isn’t the only medicine priced high because of never-ending TV ads. The US government also took aim at Jardience, Xaralto, Imbruvica, Junivia, and Mxyzptlk (I made that last one up. Extra credit if you know where it comes from).
If you watch the CBS evening news, you see ALL of these advertised, multiple times, during the 30 minute broadcast. CBS executives might claim they have their viewers best interest at heart. But in reality, they only want to keep senior citizens alive so that their audience share doesn’t decline any further.
Before the cheers get too load for this cost savings, let’s recognize that the price WON'T drop until 2026. What’s wrong with making it happen in 2025? Everyone is vague on that.
I’m all in favor of letting Big Pharma recover its R&D costs. Complying with FDA rules for testing can take 7 years or more. But when you see something advertised on TV all the time, there’s no research and development in the cost. That $6,000 a year was largely made up of advertising.
Just like the cost of a Big Mac, Coca Cola, Cheetos, and Twixt candy. There’s no research and development involved there too. The Coke formula was invented 150 years ago, in 1880. I don’t know when all beef patties, cheese and sesame seed buns were invented. If you think your junk food – like your medicine – costs too much, you can just stop buying it.
Related news – Starbucks' new CEO earns $85 million a year. Remember that the next time you order a Latte at the drive thru on your way to your $55,000 a year office job.
I’m just sayin’ . . .
~US strikes deal to cut cost of 10 drugs for Medicare users (bbc.com)~
WTH !! . . . Eliquis costs $6,000 a year? Kudos to the US government for forcing price cuts.
byu/baltimore-aureole ineconomy
by baltimore-aureole
6 comments
Unfortunately it’s only for Medicare recipients. I have a feeling that the prices will only go up for non medicare recipients to cover the gap and continue with record profits.
>Before the cheers get too load for this cost savings, let’s recognize that the price WON’T drop until 2026. What’s wrong with making it happen in 2025? Everyone is vague on that.
LOL Why 2026? Why not 2025? Because the Eliquis patent expires in 2026 [1], that’s why.
Biden is taking credit for a patent expiring and the media aren’t even fact-checking this.
[1] [https://www.drugpatentwatch.com/p/tradename/ELIQUIS](https://www.drugpatentwatch.com/p/tradename/ELIQUIS)
It’s an election year. Nothing has really changed. Insurance companies and big pharma still control “healthcare”. You’ll find out when you get older . Take care of yourself now.
In the meanwhile, in EU, public healthcare provides the needed drugs to people basically free (paid with taxes as it should be).
This is such a racket. The duopoly is just shuffling the deck for theatre. There is no actual “savings”. RFK is the only candidate that will do anything to shift the trajectory from corrupt corporatism to a fairer and just system.
https://www.eliquis.bmscustomerconnect.com/globalpage
Eliquis can afford to just lower the cost….they offer copay assistance
https://www.eliquis.bmscustomerconnect.com/globalpage