Health Care Leaders Call for Sustainable Pricing as Senate Health Committee Shines Spotlight on Six-Figure Specialty Drugs (CAHP, News Release, 2/4/15)
HPSJ CEO Amy Shin Invited by Committee Chair to Testify
State Needs Comprehensive Assessment of High-Priced Drugs’ Impact on Public Programs
Sacramento, CA – California legislators are examining escalating prescription drug costs and the flurry of new six-figure priced drugs at a State Senate Committee on Health hearing today. Medications like Gilead Sciences’ Sovaldi have made headlines not only for the efficacy in treating Hepatitis C, but for their hefty price tags that threaten to destabilize our health care system, public programs and state budgets across the nation. The high-pricing of specialty drugs that treat more common diseases, like Hepatitis C, runs counter to efforts to make health care affordable and accessible. The full impact of these high prices is yet to be seen though, and California needs a comprehensive assessment of how these costs will affect the state and consumers.
“We need to engage in a broad public discussion about how to provide access to highly effective treatments without raising costs to the point where coverage could become out of reach for many Californians—sustainable drug prices must be a big part of that discussion,” said Charles Bacchi, president and CEO of the California Association of Health Plans. “High-priced drugs will create a ripple effect throughout state programs, eating up budgets and taxpayer dollars. With a host of specialty drugs in the pipeline, California can’t afford six-figure prices for widely-needed drugs to become the new normal.”