Kirsten Axelsen

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Articles

Don’t Import Bad Policy Ideas on Drug Pricing

Nov 13, 2024 | aei.org | Kirsten Axelsen

The U.S. is the most important market for drug development. The country has rapid scientific reviews and drug approvals, and typically a quick and predictable pathway to reimbursement. It is unfortunate, then, that our policymakers are borrowing ideas from countries that have destroyed incentives to invest in their life sciences economies and reduced their citizens’ access to life-changing treatments. If we borrow these bad ideas, we will also borrow their bad outcomes.
Evidence to Inform Biopharmaceutical Policy: A Call for Research on the Impact of Public Policies on Investment in Drug Development

Oct 28, 2024 | itif.org | Sandra Barbosu |Kirsten Axelsen |Stephen Ezell

KEY TAKEAWAYSThere is a pressing need for updated, robust evidence to inform biopharmaceutical policy. This need is especially urgent in light of recent initiatives such as the Inflation Reduction Act (IRA), which instituted price-setting provisions that would lead to reduced R&D investment and a large decrease in new drugs developed.
Evidence-Based Biopharmaceutical Policymaking: Symposium Report

Oct 23, 2024 | itif.org | Kirsten Axelsen |Sandra Barbosu |Stephen Ezell

The Information Technology and Innovation Foundation (ITIF) convened an expert symposium on October 10, 2024, to discuss the evidence that is currently available to assess financial returns from clinical development of biopharmaceuticals, and to consider related questions such as how investors measure financial returns, how drug development has evolved in the past 10 years, what kind of information is most useful in guiding biopharmaceutical policy, and what factors drive further innovation...
Risks to Clinical Development andAccess to Medicines

Sep 18, 2024 | aei.org | Kirsten Axelsen

Kirsten Axelsen recently testified before the Senate Finance Committee’s hearing Lower Health Care Costs for Americans: Understanding the Benefits of the Inflation Reduction Act. IntroductionChairman Wyden, Ranking Member Crapo, and members of the committee thank you for the opportunity to share my perspective on the Inflation Reduction Act’s (IRA) implications on medicines,costs and, by extension, on health and longevity.
Price Controls on Obesity Meds Is a Mistake

Aug 26, 2024 | aei.org | Kirsten Axelsen

The Inflation Reduction Act directs the federal government to set prices for ten drugs in Medicare, with a recent announcement highlighting how much the government will save as a result of this intervention. However, it remains to be seen if the people who rely on the Medicare Part D benefit for their medicines will see any savings materialize, as many of these drugs were already deeply discounted and preferred in formularies.
The Poorly Managed 340B Program Will Be Even Worse With The Inflation Reduction Act

Aug 13, 2024 | aei.org | Kirsten Axelsen

In U.S. healthcare, few policies are as poorly designed as the 340B drug discount program. But despite solid evidence that the program is poorly managed, the government has once again denied being accountable. Instead of fixing the program, they expanded it with the Inflation Reduction Act.
Changes to Medicare Could Make It More Expensive

Jul 8, 2024 | aei.org | Kirsten Axelsen

While much of the Inflation Reduction Act analysis has been focused on the newly established mandate for the federal government to set drug prices in Medicare, bringing down the price of medicines, the law also makes other changes to Medicare. It reduces federal subsidies to low-income and high-need people, putting more financial risk onto the health insurance companies and pharmacy benefit managers that offer drug plans and puts a limit on out-of-pocket spending for beneficiaries.
Turning Age 65 Should Not Be A Reason To Lose Medical Care

Jun 27, 2024 | aei.org | Kirsten Axelsen

Medicines that can help people with obesity lose weight face a distinct affordability challenge to affordability relative to other types of drugs. They are new and have pent-up demand, so they are perceived to be costly, which limits coverage in insurance plans. However, until they are covered, there is limited evidence of how much they cost or can save the health system.
Kirsten Axelsen: Affordable access to weight loss drugs needed (Opinion)

Jun 20, 2024 | wvgazettemail.com | Kirsten Axelsen

Sen. Bernie Sanders, I-Vt., is getting a piece of the attention being paid to weight loss drugs. Unsurprisingly, these medicines have gotten a lot of notice; losing weight and keeping it off is very hard. These medicines help people with obesity meet their weight loss and health goals. While the Sanders may see personal attention from inserting himself into this, with investigations, appeals to other countries to intervene, and ineffective plans for importation, he’s wasting time.
The Inflation Reduction Act Is Bad for Oncology Medicines

Jun 6, 2024 | aei.org | Kirsten Axelsen

The Inflation Reduction Act makes some significant changes to the Medicare program. Notably, the law directs the federal government to intervene and set the price for certain medicines. Medicare “negotiation” starts with ten medicines already selected for price setting in 2026 and expands to twenty by 2029. This Inflation Reduction Act price intervention for drugs includes an odd selection criterion not seen in any other price-setting system outside of the United States.