Latest news with #drugcosts
Reuters
19 hours ago
- Business
- Reuters
GSK in talks with Trump administration on U.S. drug pricing, CEO says
LONDON, July 30 (Reuters) - British drugmaker GSK (GSK.L), opens new tab said on Wednesday it is in talks with the Trump administration about ways to lower U.S. drug costs, becoming the latest pharmaceutical company to acknowledge action under pressure from Washington to rein in prices. GSK CEO Emma Walmsley said on a call with journalists after the company posted second-quarter profits above analyst expectations that the discussions with the U.S. administration are "about how to make sure discounts are passed on to patients and pricing is sustainable, both for the government and also for industry."
Medical News Today
07-07-2025
- Health
- Medical News Today
Cobenfy (xanomeline/trospium chloride) and cost
The cost of Cobenfy can vary based on several factors, including your insurance coverage. Coupons and drug savings programs can also lower the price you'll pay for cost and savingsAs with all medications, the cost of Cobenfy can vary. Factors that may affect the price for Cobenfy [link to head term] you'll pay include:your treatment planyour insurance coveragethe pharmacy you usethe cost of the visit to your healthcare professional to receive doses of Cobenfywhether Cobenfy has a savings program (see the 'Financial and insurance assistance' section)To find out what the cost of Cobenfy will be for you, talk with your doctor, pharmacist, or insurance provider. Brand-name vs. generic drugsCobenfy is only available as a brand-name drug. It doesn't come in a generic version. A generic drug is an exact copy of the active ingredient in a brand-name tend to cost less than brand-name ARE COSTS DIFFERENT FOR BRAND-NAME DRUGS VS. GENERIC DRUGS?Brand-name drugs can be expensive because of the research needed to test their safety and effectiveness. The manufacturer of a brand-name drug can sell it for up to 20 years. When the brand-name drug's patent expires, multiple manufacturers can create generic versions. This marketplace competition may lead to lower costs for generics. Also, because generics contain the same active ingredients as brand-name drugs, they don't require the same costly to reduce long-term drug costsIf you take Cobenfy long term, you may be able to lower its cost in the following a 3-month supplyYou may be able to get a 90-day supply of Cobenfy. If approved by your insurance company, getting a 90-day supply of the drug could reduce your number of trips to the pharmacy and help lower the cost. If you're interested in this option, check with your doctor, pharmacist, or insurance a mail-order pharmacyCobenfy may be available through a mail-order pharmacy. Using this type of service may help lower the drug's cost and allow you to receive your medication without leaving home. Some Medicare plans may help cover the cost of mail-order medications. You may also be able to get a 90-day supply of the drug via mail you don't have health insurance, talk with your doctor or pharmacist. They may be able to suggest online pharmacy options that could work for and insurance assistanceIf you need financial support to pay for Cobenfy, or if you need help understanding your insurance coverage, help is available. For example:A program called Cobenfy Cares is available for Cobenfy. For more information and to find out whether you're eligible for support, call 877-262-3639 or visit the program websites provide details about drug assistance programs, ways to make the most of your insurance coverage, and links to savings cards and other services. Two such websites are: Medicine Assistance ToolNeedyMeds» Learn more about saving money on prescriptions with or without considerationsYou may want to consider the following information if you have insurance and receive you have insurance, your insurance company may require prior authorization before it covers Cobenfy. This means the company and your doctor will discuss Cobenfy in regard to your treatment. The insurance company will then determine whether the medication is a drug requires prior authorization but you start treatment without the prior approval, you could pay the full cost of the medication. You can ask your insurance company whether Cobenfy requires prior Medical News Today has made every effort to make certain that all information is factually correct, comprehensive, and up to date. However, this article should not be used as a substitute for the knowledge and expertise of a licensed healthcare professional. You should always consult your doctor or another healthcare professional before taking any medication. The drug information contained herein is subject to change and is not intended to cover all possible uses, directions, precautions, warnings, drug interactions, allergic reactions, or adverse effects. The absence of warnings or other information for a given drug does not indicate that the drug or drug combination is safe, effective, or appropriate for all patients or all specific uses.
CTV News
25-06-2025
- Business
- CTV News
Louisiana files lawsuits alleging pharmaceutical giant CVS deceived customers in text messages
NEW ORLEANS — Louisiana filed several lawsuits accusing pharmaceutical giant CVS of abusing customer information and using its dominant market position to drive up drug costs and unfairly undermine independent pharmacies, the state's attorney general said Tuesday. Attorney General Liz Murrill began investigating CVS after the company sent out mass text messages to thousands of residents on June 11 to lobby against legislation that took aim at its business structure. The texts warned that medication costs could go up and all CVS pharmacies in the state would close. The lawsuits, which were filed Monday in central Louisiana's St. Landry Parish, seek 'injunctive relief, civil penalties and restitution,' Murrill said. CVS 'abused customers' sensitive information to push a political message,' Republican Gov. Jeff Landry said Tuesday at a press conference. He noted CVS had lobbied his wife over text via the same messaging chain normally used to notify her about picking up a prescription drug or other healthcare-related matters. One lawsuit argues that the text message lobbying constituted 'unfair or deceptive acts' in violation of state trade law. Two Louisiana-based law firms have filed a separate class action lawsuit against CVS over the text messages. CVS has denied any wrongdoing. 'Our communication with CVS customers, patients and members of the community was consistent with the law,' CVS said in an emailed statement. 'We believe it was important for people to know about a potential disruption to where they get their medicine.' Two other lawsuits allege that CVS artificially inflates prices for consumers and independent pharmacies. CVS serves as a pharmacy benefit manager, essentially an intermediary that buys medication from manufacturers and distributes drugs to pharmacies. CVS and the mail-order pharmacy Express Scripts dominate the market by processing about eight out of every 10 prescription drug claims, according to the Federal Trade Commission, which warned in a 2024 report that this allows for 'inflating drug costs and squeezing Main Street pharmacies.' Because CVS also owns a vast network of retail pharmacies, including 119 in Louisiana, it sets the terms for how prescription drugs are sold to customers there. The proposed law that sparked the text messages from CVS had sought to ban pharmacy benefit managers like CVS from owning drug stores. The law failed to pass, but Landry has stated he will seek to revive it. In the state's litigation, Murrill alleges that CVS business structure and practices allow the company to 'manipulate prices, restrict competition and channel profits internally.' One lawsuit accuses CVS of 'systematically under-reimbursing independent Louisiana pharmacies to the point of economic hardship, while routing patients to CVS-owned facilities.' The lawsuit alleges that CVS imposes 'unethical, unscrupulous, and exorbitantly high fees on independent pharmacies.' CVS said that it should not have to pay higher rates for 'less efficient pharmacies' and that this would lead to 'higher costs for consumers.' 'Importantly, CVS Pharmacy remains the lowest cost pharmacy and a critical partner in lowering prescription drug costs for Louisianans,' the company said. Another lawsuit argues that CVS uses its market control to exclude lower-cost drugs for 'high-rebate, high-price brand drugs' and other practices that 'distort the drug market' and 'drive up costs for the state's public health programs and its citizens.' CVS said that its business structure allows for 'better access, affordability, and advocacy for those we serve.' The company said that removing CVS pharmacies from Louisiana would increase costs to the state by more than US$4.6 million. Landry said he would seek new legislation targeting CVS if existing laws were insufficient to win in court. Jack Brook, The Associated Press
Washington Post
24-06-2025
- Business
- Washington Post
Louisiana files lawsuits alleging pharmaceutical giant CVS deceived customers in text messages
NEW ORLEANS — Louisiana filed several lawsuits accusing pharmaceutical giant CVS of abusing customer information and using its dominant market position to drive up drug costs and unfairly undermine independent pharmacies, the state's attorney general said Tuesday. Attorney General Liz Murrill began investigating CVS after the company sent out mass text messages to thousands of residents on June 11 to lobby against legislation that took aim at its business structure. The texts warned that medication costs could go up and all CVS pharmacies in the state would close.
Al Arabiya
24-06-2025
- Business
- Al Arabiya
Louisiana Files Lawsuits Alleging Pharmaceutical Giant CVS Deceived Customers in Text Messages
Louisiana filed several lawsuits accusing pharmaceutical giant CVS of abusing customer information and using its dominant market position to drive up drug costs and unfairly undermine independent pharmacies, the state's attorney general said Tuesday. Attorney General Liz Murrill began investigating CVS after the company sent out mass text messages to thousands of residents on June 11 to lobby against legislation that took aim at its business structure. The texts warned that medication costs could go up and all CVS pharmacies in the state would close. The lawsuits, which were filed Monday in central Louisiana's St. Landry Parish, seek injunctive relief, civil penalties and restitution, Murrill said. CVS abused customers' sensitive information to push a political message, Republican Gov. Jeff Landry said Tuesday at a press conference. He noted CVS had lobbied his wife over text via the same messaging chain normally used to notify her about picking up a prescription drug or other healthcare-related matters. One lawsuit argues that the text message lobbying constituted unfair or deceptive acts in violation of state trade law. CVS has denied any wrongdoing. 'Our communication with CVS customers, patients and members of the community was consistent with the law,' CVS said in an emailed statement. 'We believe it was important for people to know about a potential disruption to where they get their medicine.' Two other lawsuits allege that CVS artificially inflates prices for consumers and independent pharmacies. CVS serves as a pharmacy benefit manager – essentially an intermediary that buys medication from manufacturers and distributes drugs to pharmacies. CVS and the mail-order pharmacy Express Scripts dominate the market by processing about eight out of every 10 prescription drug claims, according to the Federal Trade Commission, which warned in a 2024 report that this allows for inflating drug costs and squeezing Main Street pharmacies. Because CVS also owns a vast network of retail pharmacies – including 119 in Louisiana – it sets the terms for how prescription drugs are sold to customers there. The proposed law that sparked the text messages from CVS had sought to ban pharmacy benefit managers like CVS from owning drug stores. The law failed to pass, but Landry has stated he will seek to revive it. In the state's litigation, Murrill alleges that CVS's business structure and practices allow the company to manipulate prices, restrict competition and channel profits internally. One lawsuit accuses CVS of systematically under-reimbursing independent Louisiana pharmacies to the point of economic hardship while routing patients to CVS-owned facilities. The lawsuit alleges that CVS imposes 'unethical, unscrupulous and exorbitantly high fees' on independent pharmacies. CVS said that it should not have to pay higher rates for less efficient pharmacies and that this would lead to higher costs for consumers. 'Importantly, CVS Pharmacy remains the lowest cost pharmacy and a critical partner in lowering prescription drug costs for Louisianans,' the company said. Another lawsuit argues that CVS uses its market control to exclude lower-cost drugs for high-rebate, high-price brand drugs and other practices that distort the drug market and drive up costs for the state's public health programs and its citizens. CVS said that its business structure allows for 'better access, affordability and advocacy for those we serve.' The company said that removing CVS pharmacies from Louisiana would increase costs to the state by more than 4.6 million dollars. Landry said he would seek new legislation targeting CVS if existing laws were insufficient to win in court.
