THE WHITE HOUSE’ REQUEST, JAPAN PUT HIS NAME UP FOR IT.
RIGHT NOW, I WANT TO TURN TO A
DIFFERENT SUBJECT, BECAUSE IT’S
ONE VERY IMPORTANT TO ALI AND I.
SEVEN PHARMACEUTICAL GIANTS ARE
TESTIFYING ON CAPITOL HILL,
WHERE CONGRESS NOW DEMANDING
ANSWERS ON THE SOARING COST OF
PRESCRIPTION DRUGS.
PRESCRIPTION DRUGS. IN THE HOT SEAT TODAY, CEOs FROM
SEVEN DRUG COMPANIES INCLUDING
ASTRAZENECA, JANSSEN
ASTRAZENECA, JANSSEN PHARMACEUTICALS, MERCK, AND
SANOFI.
SANOFI. FAVORITISM IS OVER HERE,
PROFITABILITY IS UP HERE.
LAST YEAR, A GALLUP POLL FOUND
THAT THEY RANKED DEAD LAST IN
POPULAR AMONG THE NATION’S
LARGEST INDUSTRIES, AT A
WHOPPING NEGATIVE 53% RATING.
BUT GOVERNMENT SPENDING ON
PRESCRIPTION DRUGS CONTINUES TO
RISE.
RISE. THAT’S WHAT’S IMPORTANT.
SO, FINE, THEY’RE NOT POPULAR,
THEY MAKING MONEY.
DESPITE THE COSTS, THEIR
PRODUCTS ARE NECESSITIES.
AND THE LAST ESTIMATE SUGGESTS
THAT THE TOTAL SPENDING WILL
GROW 60% FROM 2019 TO 2027.
THAT IS $576.7 BILLION MORE THAN
HALF A TRILLION.
MILLIONS OF AMERICANS ARE
RELYING LIFE AND DEATH ON
MEDICARE TO GET THEIR
PRESCRIPTIONS.
PRESCRIPTIONS. AND THE ANNUAL INCREASE IN
SMAIRD SPENDING IS SET AT 8%
EACH YEAR FOR THE NEXT TEN
YEARS.
YEARS. LAST WEEK, SENATORS CHUCK
GRASSLEY AND RON WYDEN LAUNCHED
AN INVESTIGATION INTO THREE
INSULIN MAKERS OVER SKYROCKETING
PRICES FOR DIABETES MEDICINE
THAT SAVES PEOPLE’S LIVES, KIDS
IN MANY CASES.
JUST TO GIVE YOU AN IDEA OF HOW
IMPACTFUL THOSE CHANGES WERE,
ONE OF THOSE COMPANIES, ELY
LILLY YB SERVED THEIR INSULIN
PRICING 585% OVER THE LAST 15
YEARS.
YEARS. BUT CONVENIENTLY, ITS CEO, WELL,
THAT CEO NOT PRESENT THERE
TODAY.
TODAY. >> LET’S TALK ABOUT THIS SOME
MORE.
MORE. JOINING US NOW, CHIEF PATIENT
ADVOCATE FOR DRUG DISCOUNTING
PLATFORM, HIPO, M.J. HAGER.
THANKS FOR BEING WITH US.
>> THANKS FOR HAVING ME ON.
HOW YOU DOING?
>> GOOD.
>> GOOD. I’M NOT 100% SURE WE NEED
HEARINGS FOR THIS, BECAUSE WE
ALL KNOW EXACTLY, IN DETAIL,
WHAT THE PROBLEM IS.
SO WHAT DO YOU EXPECT FOLLOWING
TODAY’S HEARINGS?
TODAY’S HEARINGS? ARE THESE COMPANIES GOING TO
FEEL PUBLIC PRESSURE AS A RESULT
OF THEM.
OF THEM. DO THEY JUST KNOW HOW TO SHOW UP
TO THESE THINGS AND GIVE THE
ANSWERS THEY NEED TO GIVE
WITHOUT ANYTHING HAPPENING?
>> I’M GLAD TO SEE THE HEARINGS.
I THINK IT’S A STEP IN THE RIGHT
DIRECTION.
DIRECTION. BUT I THINK IF WE’RE JUST
LOOKING FOR A VILLAIN AND WANT
TO SIMPLIFY IT AND POINT THE
FINGER AT ONE GROUP, I DON’T
THINK THAT’S GOING TO SOLVE THE
OVERALL PROBLEM.
OVERALL PROBLEM. I’M GLAD TO SEE HEARINGS ON
INSULIN, BUT WE HAVE PROBLEMS
ACROSS THIS INDUSTRY.
YOU HEAR ABOUT EPIPENS, WHICH
ARE LIFE SAVING FOR PEOPLE WITH
ALLERGIES.
ALLERGIES. I THINK WE HAVE TO LOOK AT IT AS
MORE OF A SYSTEMIC PROBLEM.
YES, THE HEARINGS ARE A STEP IN
THE RIGHT DIRECTION.
YES, THERE IS A PLACE FOR
REGULATION.
REGULATION. PEOPLE NEED TO ELECT LEADERS
THAT NEED TO STAND UP AND PUT
THE RIGHT CONSTRAINTS IN PLACE,
BUT WE HAVE TO SEEK OUT AND
SUPPORT COMPANIES THAT ARE
OFFERING DISRUPTIVE TECHNOLOGY
THAT ARE PROVIDING THE
TRANSPARENCY NECESSARY FOR THE
FREE MARKET TO HELP THIS
PROBLEM, AS WELL.
>> OKAY, DISRUPTIVE TECHNOLOGY
IS OPTIMISTIC, IT’S EXCITING,
BUT WE ALSO KNOW THAT THE
LOBBYING DOLLARS THAT COME FROM
BIG DWARF PRETTY MUCH EVERYTHING
ELSE, BY A LONG SHOT.
IF WE WANT TO BE REALISTIC.
TO SIT UP THERE AND GO, WELL,
THESE DRUG COMPANIES, THEY’RE
NOT POPULARITY.
NOT POPULARITY. POPULARITY DOESN’T MATTER.
I DON’T LIKE THE COMPANIES THAT
SELL THE DRUGS THAT MY FAMILY
NEEDS, BUT I GO AND I BUY THEM
IF WE NEED THEM.
SO WHAT WILL ACTUALLY MAKE A
DIFFERENCE BESIDES NEW
BUSINESSES AND DISRUPTION?
BECAUSE, HONESTLY, THAT’S SMALL
POETS.
POETS. POTATOES.
POTATOES. >> SO I SPENT FIVE YEARS WORKING
IN HEALTH CARE AND I THINK MOST
PEOPLE WHO HAVE EVEN TOUCHED
THIS INDUSTRY UNDERSTAND IT’S AN
UNSUSTAINABLE MODEL, THAT WE’VE
GOT TO REDUCE PRICES AND PROVIDE
QUALITY CARE TO MORE PEOPLE AND
NOT MAKE IT AN "IF YOU CAN
AFFORD IT, THEN YOU CAN BE
HEALTHY SITUATION."
HEALTHY SITUATION." BUT I DEFINITELY THINK THE
ANSWER IS TWOFOLD.
AGAIN, WE HAVE TO ELECT
REPRESENTATIVES AND PEOPLE,
LAWMAKERS THAT ARE GOING TO BE
ABLE TO STAND UP TO INDUSTRIES
LIKE THIS.
LIKE THIS. THEY HAVE TO SAY THAT THEY’RE
NOT GOING TO TAKE CORPORATE
DOLLARS, THEY HAVE TO NOT TAKE
MONEY FROM CORPORATE PRISONS AND
BIG PHARMA, AND ALL OF THE AREAS
THAT THESE DOLLARS COME FROM.
SO WE NEED TO ELECT COURAGEOUS
LEADERS.
LEADERS. MEANWHILE, WHAT CAN WE DO AS
CONSUMERS?
CONSUMERS? WE CAN DEMAND TRANSPARENCY?
WE CAN DEMAND TO HAVE OUR
PHARMACEUTICALS TREATED LIKE ANY
OTHER INDUSTRY WE SHOP IN.
WE CAN GO IN AND DO RESEARCH.
MOST PEOPLE DON’T KNOW THAT YOU
CAN GO TO A PHARMACY AND PAY $8
FOR A MEDICATION THAT DOWN THE
STREET AT A COMPLETELY DIFFERENT
PHARMACY IS $150.
IT’S NOT JUST BIG PHARMA.
WE WANT TO DEMONIZE THEM, BUT
REALLY, TRULY, IT’S AN
INEFFICIENT SYSTEM WITH A LOT OF
MIDDLEMEN AND A LOT OF PEOPLE
WITH THEIR HANDS IN THE HONEY
POT.
POT. WE HAVE GOT TO START FINDING
ANOTHER WAY.
ANOTHER WAY. WHEN CONSUMERS ARE FED UP WITH A
PROCESS OR PRICING, THEY SEEK
ALTERNATE ANSWERS.
ALTERNATE ANSWERS. AND THAT’S WHY I’M EXCITED TO
HAVE TAKEN THE JOB THAT I TOOK
TO TRY TO HELP GET THOSE
AFFORDABLE MEDICATIONS INTO
PEOPLE’S HANDS.
PEOPLE’S HANDS. AND I THINK THAT HIPO A GOOD
ANSWER.
ANSWER. >> THE SAD THING IS, THE DRUG
SITUATION SUNIS UNSUSTAINABLE FO
CONSUMERS, NOT UNSUSTAINABLE FOR
THOSE COMPANIES.
THOSE COMPANIES. IT’S GREAT FOR THOSE COMPANIES.
AND IT’S TOUGH TO FIND ELECTED
OFFICIALS THAT ARE REALLY GOING
TO STAND UP, BECAUSE LET’S BE
HONEST, CAMPAIGN DOLLARS AFFECTS
ELECTED OFFICIALS ON BOTH SIDES
OF THE AISLE.
>> THE ONLY THING THAT WILL MAKE
THEM CHANGE IS IF WE AFFECT
THEIR BOTTOM LINE.
THE ONLY WAY WE CAN AFFECT THEIR
BOTTOM LINE IS EITHER THROUGH
REGULATION OR INFORMING AND
EMPOWERING CONSUMERS TO HAVE THE
INFORMATION TO BE ABLE TO MAKE
WISE CHOICES.
WISE CHOICES. EVEN DOCTORS DON’T EVEN KNOW HOW
MUCH THE MEDS ARE GOING TO BE
WHEN THEY’RE PRESCRIBING THEM TO
PEOPLE.
PEOPLE. PEOPLE HAVE WILDLY DIFFERENT
INSURANCE PLANS.
INSURANCE PLANS. >> THAT’S BECAUSE THEY DON’T
CARE.
CARE. >> WELL, THEY CARE.
IT’S VERY FRUSTRATING FOR
PHYSICIANS TO PRESCRIBE
MEDICATIONS AND TO TAKE TIME AND
TO HAVE PATIENTS THAT THEY’RE
CARING FOR AND THEN ONE IN THREE
PRESCRIPTIONS IS NOT PICKED UP
AT THE COUNTER AND OVER HALF OF
THOSE IS BECAUSE PEOPLE CAN’T
AFFORD THEM.
AFFORD THEM. I’M A MOM, I’VE BEEN AT THE
PHARMACY --
PHARMACY -- >> YOU’RE SAYING THAT PEOPLE
ORDER PRESCRIPTION OR A DOCTOR
SENDS IT TO A PHARMACY AND ONE
IN THREE JUST DON’T GET
PURCHASED, BECAUSE --
>> ONE IN THREE JUST DON’T GET
PURCHASED.
PURCHASED. SOME PEOPLE DON’T THINK THEY
NEED THEM, THEY DON’T WANT TO
TAKE THEM, BUT HALF OF THE
PEOPLE WHO ARE ABANDONING
PRESCRIPTIONS ARE DOING SO
BECAUSE THEY CAN’T AFFORD THEM.
I DON’T KNOW IF YOU HAVE EVER
FWHN
FWHN BEEN IN THIS SITUATION, YOU HAVE
A SICK KID, YOU GET TOLD WITH
THE CRYING KIDS IN YOUR HANDS,
THAT’S GOING TO BE $150.
I, MYSELF, HAVE KID, SAYING, OH,
MY GOSH, SAYING, I CAN’T AFFORD
THAT.
THAT. ON HIPO, YOU CAN GO ON THE
WEBSITE AND FIND OUT HOW MUCH
YOU’RE GOING TO PAY BEFORE YOU
EVER GO TO THE WEBSITE.
YOU CAN CHOOSE THE RIGHT
PHARMACY, WHOEVER HAS $8 VERSUS
THE $150.
THE $150. AND WITH EMPOWERING CONSUMERS
THAT WAY, THAT’S ONE WAY THAT
THE FREE MARKET CAN ACTUALLY
INFLUENCE THE BOTTOM LINE AND
FORCE A CHANGE IN THIS INDUSTRY.
>> WOW.
>> WOW. M.J., THANK YOU SO MUCH.
>> M.J. TALKS ABOUT ELECTING
GOOD PEOPLE.
GOOD PEOPLE. M.J., REMEMBER M.J.’S AD FROM
THE ELECTION, SHE RAN, SHE’S A
COMBAT VETERAN.
COMBAT VETERAN. ARE YOU RUNNING AGAIN?
>> YOU KNOW, AFTER THE ELECTION,
I -- WE NARROWLY LOST IN A
DISTRICT THAT HAD LOST THE LAST
MIDTERM BY 32 POINTS, WE LOST BY
2.9% AND I WOKE UP THE NEXT DAY
ASKING MYSELF THAT QUESTION.
THE ONLY ANSWER I CAME UP WITH
IMMEDIATELY, I THINK IT’S TOO
SOON TO TELL, BUT THE ONLY
ANSWER I CAME UP, HOW CAN I
CONTINUE WAKING UP EVERY MORNING
FEELING LIKE I’M FIGHTING FOR MY
SKPRALS
SKPRALS VALUES AND A BETTER FUTURE FOR
MY KID, SO I FEEL LIKE I’M
PRETTY SATISFIED RIGHT NOW
SPREADING THE GREAT WORD ABOUT
THIS COMPANY, BUT POSSIBLY.
IT DEPENDS ON WHAT HAPPENS.
AS A MEDEVAC PILOT, I TEND TO
LOOK FOR THE FIRE AND RUSH THERE