Summary of Demystifying Drug Pricing

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Demystifying Drug Pricing summary
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In recent years, drug-industry executive Martin Shkreli and Mylan, the makers of EpiPen, garnered infamy for their pricing strategies. Yet consumers remain largely in the dark about drug pricing. Atlantic editor Steve Clemons questions a knowledgeable panel about the opaque math behind drug pricing – and then presses for better solutions. getAbstract recommends this elucidating and timely, yet frequently digressing, discussion.

In this summary, you will learn

  • How drug companies decide drug prices,
  • Why this pricing model fails consumers and other stakeholders, and
  • How to improve the model.
 

About the Speakers

Henry Aaron is a senior fellow with the Brookings Institution, a public policy organization. Elizabeth Fowler is a global health policy executive for Johnson & Johnson. Gail Wilensky is a senior fellow with Project HOPE, a worldwide health foundation. Steve Clemons is editor of AtlanticLIVE, the events branch of The Atlantic magazine.

 

Summary

How do pharmaceutical firms set drug prices? The answer is complex. Say a company makes a drug that could extend by 10 years the lives of 10,000 patients who otherwise would die. In “value-based pricing,” every additional year of life ...

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