Five things for pharma marketers to know: Monday, May 15, 2017
1. Patient-assistance programs that help cover out-of-pocket drug costs are a $10 billion business, according to investment bank Bernstein. Of the 20 largest charities in the U.S., 10 are patient-assistance programs, which make up 7.7% of pharmaceutical companies' operating expenses. (Politico)
2. Avanir's ad promoting pseudobulbar affect, a rare neurological condition, has raised concerns about using DTC to market a product beyond the patient population that would benefit most. Avanir said that population is about two million people in the U.S. Patient estimates vary, however, according to The New York Times. (NYT)
3. A report released by another investment bank, Lazard, found that the move toward value-based payment models is in response to pricing pressure. (Report)
4. The White House budget director said the Trump administration is considering being “heavier-handed” with rebates paid by drugmakers in the Medicare program in order to address drug-pricing concerns. (WaPo)
5. ICYMI: Johnson & Johnson will pay $400,000 in Oregon to resolve allegations it purchases defective bottles of Motrin as part of a "phantom recall" to avoid negative publicity. (Reuters)
CORRECTION: An earlier version of this story incorrectly cited the number of patients estimated to be affected by pseudobulbar affect. Avanir's estimate is two million.