When new pharmaceutical drugs are released into the market, nonprofit organizations such as the Institute for Clinical and Economic Review analyze the drug and make reports on them. These reports prove if the drugs are worth the cost of what they are providing. Health plans then look at these reports and use them to increase pressure on the makers of the drugs to lower the prices.
Recently, two new cholesterol drugs were added to the market. These drugs have been generating a lot of concern based on their extremely high prices. According to the Institute for Clinical and Economic Review, the two drugs, Repatha and Praluent are extremely overpriced. The analysis released that the price should be only about one-third the price set by the manufacturers. In an Article released September 9, 2015 in The New York Times, author Andrew Pollack wrote about the absurdity of these two drugs prices. According to the article the drugs yearly prices are ranged from $14,100 to $14,600.
The news coverage of these two drugs has been extremely negative. According to the article, the drugs should cost around $4,000 a year instead of what it is at right now. This negative news coverage will impact both people considering taking the drug as well as health plans and doctors. No one is going to want to take the medicine knowing that it is so overly priced. The article will also convince health plans to push these pharmaceutical companies to change the price of the drugs.
As a Public Relations professional working for either of these pharmaceutical companies, I would suggest to first do research and make sure that the ICER’s report was accurate. While this is being researched, I would make a public announcement stating how this report hasn’t been reviewed or even fully published yet. I would also emphasis the benefits of taking this new cholesterol drug. According to the article, it is estimated that the use of the drug would prevent hundreds of thousands of deaths, heart attacks or strokes over the next twenty years.