
Photo: Carla K. JohnsonCraig Garthwaite, assistant professor, Northwestern University’s Kellogg School of Management (left); Roy Guharoy, Pharm.D. vice president and chief pharmacy officer for the Resource Group at Ascension (middle); and independent journalist and AHCJ member Duncan Moore (right) spoke at the Chicago chapter event “Drug Pricing: Covering the Controversy” at Columbia College in Chicago on Feb. 23.
A blockbuster hepatitis C drug costs $84,000, straining state budgets. Martin Shkreli acquires the rights to a generic and raises its price 5,000 percent. Presidential candidates react to the public outcry, claiming they know what to do about the drug prices.
What does it all mean? Until recently, “there’s been an equilibrium in the public mind between a free market regimen of the market setting prices and what the public and payers are willing to pay,” said independent journalist Duncan Moore, “but there are indications this informal tradeoff has begun to swing out of control.” Continue reading