Policy Today podcast: All About Prescription Drug Prices

Healthcare spending in general, and prescription drug prices specifically, continue to be a major issue in both state and federal budgeting. Today's guest is Saumil Pandya, Senior Director of Policy & Research at PhRMA, the Pharmaceutical Research and Manufacturers of America. We discuss the lengthy process of getting a drug to market; comparing the high prices of some drugs (such as those used to cure Hepatitis C) with the even higher prices of treatment, hospitalization and surgery; how the prescription drug industry interacts with Medicaid; and the price-reducing effects of drugs going off-patent and being available in generic form.

Here are links to some of the studies and reports mentioned in this podcast:

Washington Research Council report on "How Medicaid and Prescription Drug Spending Impact the State Budget."

Tufts study on the average cost to develop and gain marketing approval for a new drug (summary).

Berkeley Research Group study on "The Pharmaceutical Supply Chain."

Health Affairs Study, "Medication Adherence Leads To Lower Health Care Use And Costs Despite Increased Drug Spending."

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