Healthcare Spending

Project NextGen Leverages $5 Billion for COVID Vaccine Development

April 13, 2023 - This week federal officials announced the $5 billion successor to Operation Warp Speed, dubbed Project Next Gen. The program will seek to address the growing threat of coronaviruses and the possibility of additional deadly COVID-19 variants. As the original coronavirus task force prepares to disband next month, new research will begin exploring...

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Behind Walgreens’ Decision to Forgo Abortion Pill Distribution in Some States

by Hayden Schmidt

Last week, Walgreens announced that it would no longer distribute abortion pills in 20 states across the US following legal warnings made by the attorneys general of those states. Specifically,...

Anticipating the 2023 Biosimilar Boom

by Veronica Salib

A recent analysis by Vantage Market Research found that in 2021 the global biosimilars market was valued at $28.46 billion. Projections based on market trajectory predict that the market will surpass $103.94 billion by 2028. While...

How Mesenchymal Stem Cells May Reduce the Need for Antirejection Drugs

by Veronica Salib

In a recent press release, Cynata Therapeutics, a biotechnology company, announced a partnership with Leiden University Medical Center (LUMC) to explore how mesenchymal stem cells may reduce the need...

Pfizer Plans to Nearly Quadruple COVID Vaccine Costs

by Veronica Salib

As the COVID-19 pandemic progresses, access and affordability to vaccines have been effective tools for public health professionals. Currently, the federal government covers COVID-19 vaccination...

How Can Remote Patient Monitoring Improve OUD Care?

by Veronica Salib

Opioid use disorder (OUD) has become a very prevalent substance abuse issue. According to the CDC, approximately 75% of overdoses in 2022 involved an opioid in the United States. The pharmaceutical industry has contributed significantly to...

Understanding the Burdens of Dialysis

by Veronica Salib

Chronic kidney disease (CKD) occurs when the kidneys fail to filter waste as they typically do in a healthy body. Patients in the late stage of chronic kidney disease progress to end-stage renal failure (ESRF) when they need a transplant...

FDA Approves the Sale of Hearing Aids over the Counter

by Veronica Salib

Recently, the FDA approved the sale of some over-the-counter (OTC) hearing aids, widening access to those who need them. According to the National Institute on Deafness and Other Communication...

Fall COVID Vaccine Boosters Could Prevent over 100,000 Deaths

by Veronica Salib

A post by the Commonwealth Fund approximates that over 100,000 lives would be saved with fall COVID booster campaigns. Though many people and institutions have the misconceived notion that the COVID...

$4.25 Billion Opioid Settlement by Teva Pharmaceuticals

by Veronica Salib

The opioid epidemic has run rampant since the 1900s. While healthcare professionals play some role in the spread of opioid use, pharmaceutical companies are the main culprit. Recently, Teva...

$354M BARDA Contract for Pharmaceutical Manufacturing Goes Unfulfilled

by Hayden Schmidt

In May 2020, Phlow Corp. received $354 million to bring inexpensive generic pharmaceutical manufacturing to the United States. At the time, it was one of the largest coronavirus-era contracts to be...

Specialty Drugs Accounted for Half of Medicaid Spending in 2020

by Samantha McGrail

Specialty drugs accounted for 51.4 percent of the net cost in Medicaid and 1.3 percent of utilization in 2020, according to a Magellan Health trend report. The Medicaid Pharmacy Trend Report looked at...

St. Jude Medical to Pay $27M to Resolve Healthcare Fraud Allegations

by Samantha McGrail

The Justice Department announced that St. Jude Medical agreed to pay $27 million to resolve a healthcare fraud allegation that it violated the False Claims Act and sold defective heart...

Pharmaceutical Supply Chain Increases Outpatient Drug Costs

by Samantha McGrail

A recent PhRMA report found that the cost of provider-administered medicines is significantly inflated by various aspects in the pharmaceutical supply chain, including coinsurance, HOPDs, and hospital...

CMS Rule Allows Payers to Negotiate Prescription Drug Pricing

by Jessica Kent

CMS has issued a final rule allowing payers to negotiate prescription drug pricing based on how well these drugs work for patients, a policy that could reduce overall healthcare spending and...

Brand Drug Product Hopping Costs US $4.7B Annually

by Samantha McGrail

A recent analysis found that product hopping for just five brand-name drugs costs the US healthcare system $4.7 billion annually. The analysis from Matrix Global Advisors examined the effects...

Robust Biosimilars Market Promotes High Savings, Affordability

by Samantha McGrail

US taxpayers and the healthcare sector may save nearly $7 billion annually with a stronger, more competitive biosimilars market, which is a significant increase from the current annual cost-savings of...

6 Pharmacy Owners, Marketers Charged in $14M Healthcare Fraud Case

by Samantha McGrail

The Department of Justice announced that six Dallas, Texas-area pharmacy owners and marketers were charged for their role in a $14 million healthcare fraud scheme involving illegal kickbacks and...

Prescription Drug Prices Spike Following FDA Approval, Study Finds

by Samantha McGrail

Manufacturers increased prescription drug prices for four drugs commonly used by hospitals after receiving FDA approval, creating an estimated $20.25 billion in additional healthcare spending over...

Gene Therapy, Regenerative Medicine Markets Booming Worldwide

by Samantha McGrail

Globally, companies manufacturing gene therapy, cell therapy, and other regenerative medicines raised nearly $10 billion in 2019, the second-highest year on record, according to a recent analysis from...

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