The US, as well as many countries around the globe, is facing an obesity epidemic like never before. Many estimates put the incidence of obesity in our country around 30%. It is more alarming how the rate in children and adolescents is rising. Most people know the harmful effects obesity can play on one’s health. People are desperate to loss weight and many people would try anything to enable them to do so. But, does that justify a $1000 a month weight loss drug?
Saxenda recently was released onto the market with good studies supporting its effectiveness. It is being well advertised and patients want it. The simple fact is that it is too expensive for most people, with a price tag of almost $1000 per month. Few insurance companies are covering it. Even when it makes it to a tiered list on an insurance company’s formulary list, it still requires patients to pay a few hundred dollars copay out-of-pocket.
Is this medication needed? We truly need more tools in our fight against obesity. However, an unaffordable option is not an option for most. Sure, novel medications cost money on research and implementation. Yet again, pharmaceutical companies are not called to the task of transparency like the rest of the healthcare industry has been called on to do. One has to wonder how much of this price inflation is for company profits. My guess would be much of it, placing their confidence in the desperation of people to lose weight. It is another example of pricing to what the market will bear, and not being reasonable.
Doctors and hospitals have been brought to task on making our reimbursements public knowledge. In fact, in an easy Google search, you can find what any doctor was paid by Medicare in the past year. Shouldn’t pharmaceutical companies be called to this task as well? Do you think, for example, if these companies had to reveal the cost spent developing a medication as well as what they charge the consumers for it we would see a medication that costs $1000/month.
Healthcare costs are spiraling out-of-control. A big part of this is pharmaceutical costs. We need new medications but it should be done without trying to maximize profits off a vulnerable population, patients. In essence, drug companies hold a monopoly over their particular products. It is only when their patent expires and other companies release generics do prices become more affordable.
The FDA regulates the medication industry in so far as ensuring that only safe products are brought to market. Additionally, they have certain regulations on how they can market their products, to consumers and healthcare professionals alike. But, there is no over-sight on how they determine their prices. Recent times revealed several cases where prices were set at astronomical heights, only based on maximizing company profits.
Patients need medications. We require more tools in our fight to curb the obesity epidemic. But, we need affordable care. Patients should not suffer for the sake of big corporations shooting for maximum profits. The pharmaceutical companies should step up and do their part in curbing healthcare costs. If they are not willing to do so, they should have this task set upon them. The US possesses one of the greatest healthcare systems in the world. We lead the world in medical innovation. Isn’t it time that patients can actually utilize it rather than being deselected out based on costs?
Copyright secured by Digiprove © 2015 Linda Girgis, MD, FAAFP
