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Encouraging competition ‘key’ to reducing glaucoma medication prices
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CHICAGO – High drug costs and drug shortages negatively impact both patients and prescribing physicians, but encouraging market competition and education regarding cost differentials can lessen those impacts, according to a speaker here.
A study comparing outcomes in latanoprost patients before and after a generic version became available found that those who continued to use the brand name version were 29% less likely to have improved adherence and 39% more likely to have reduced adherence, Joshua D. Stein, MD, MS, said at Glaucoma Subspecialty Day preceding the American Academy of Ophthalmology annual meeting.
Reasons for high prices and drug shortages vary from a lack of availability of raw ingredients, lack of supply and exclusive or limited competition in the marketplace, Stein added.
“For patients to benefit from the drugs we prescribe, not only do they need to be available, they need to be affordable,” he said.
Even when competitive or generic drugs exist on the market, many physicians are unaware of the price differential, pharmacists are often encouraged not to substitute generics for name brand products, and patients with good insurance can be insulated from the prices they are receiving, he continued.
“All of these can lead to patients getting higher priced medications,” Stein said.
However, informed physicians can help bring prices down.
“Encouraging greater competition in the marketplace is key,” he said, adding that educating physicians and patients about the comparative costs of different medications can lower medication prices.
In addition, cracking down on companies that pay generic drug manufacturers to delay entering the marketplace, reducing the cost of research and development activities, limiting direct-to-consumer advertising and creating laws allowing pharmacists to substitute less costly products can all be beneficial. - by Rebecca L. Forand
Reference: Stein JD. How do drug availability and pricing affect the practice of glaucoma? Presented at: AAO Subspecialty Day; Oct. 26-27, 2018; Chicago.
Disclosure: Stein reports no relevant financial disclosures.