In the News: Why prescription drugs are bankrupting us

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Photo by Mark Pernice

Few dispute the notion that prices for pharmaceutical drugs in the U.S. are too high – especially when compared to those of other nations. An op-ed piece in today’s New York Times looks at that issue and finds several reasons.

Among the factors cited by the report, which is based in part on an article in the New England Journal of Medicine,  insurance companies’ coverage of drugs regardless of price or whether they are much better than existing, less costly drugs. Also cited: some pharmaceutical companies buying up the rights to cheap generic drugs so they can then jack up prices.

The high cost of pharmaceuticals – Amgen’s new leukemia drug Blincyto is expected to cost $64,000 a month – clearly needs attention if health care costs are to be prevented from soaking up more of the nation’s wealth, crowding out other essential spending.

The op-ed piece was written by Dr. Peter Boch, director of the Center for Health Policy and Outcomes at Memorial Sloan Kettering Cancer Center.

– Len Maniace

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About lenmaniace

Award-winning writer and editor who has worked as a journalist and a corporate communications professional specializing in environmental sustainability and public health policy. Experience includes successful media outreach for a Manhattan publicity firm. Board member and president of a community-based nonprofit. Founder and leader of a series of successful park, art and environmental programs in Jackson Heights, Queens, one of the most diverse neighborhoods in the nation’s most diverse city. * Executive Editor at Elsevier, a leading scientific and medical publisher. * Publicist, Media Advisor, Social Media Manager (part-time) at Monteiro & Co., a book-marketing company that specializes in business management, economics and politics. * Reporter (part-time) at the New York Post, specializing in breaking news in the world’s most competitive media market. * Senior Writer and Editor at The Journal News/LoHud.com, Gannett’s daily news outlet in Westchester, Rockland and Putnam counties. Specialized in health policy and environmental sustainability issues * President the Jackson Heights Beautification Group, a volunteer nonprofit civic organization in Queens, N.Y. Leader of its innovative environmental sustainability programs, including the Green Agenda for Jackson Heights.
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