August 6, 2014— Sovaldi and other expensive new hepatitis C drugs will increase federal Medicare Part D spending by $2.9 billion to $5.8 billion in 2015 and raise Part D premiums by as much as 8.6 percent, pharmacy benefit management companies warn in a new report.[ms-protect-content id=”2799″]
The Pharmaceutical Care Management Association released the report on July 29. It based its projections on the assumption that the 15 to 30 percent of the Medicare Part D population estimated to be infected with hepatitis C will receive treatment in 2015.
Days after the PCMA study came out, however, the Center for Medicare & Medicaid Services issued a news release saying it expects Part D premiums will increase by only $1 in 2015, to an estimated $32 per month. Drug manufacturers pointed to CMS’s data as a riposte to those who warn that Sovaldi and other new high-priced drugs could bankrupt the U.S. health care system.
Sovaldi has been making waves since its approval by the Food and Drug Administration in December 2013. With a price tag of $1,000 per pill and $84,000 for the typical 12-week treatment, Sovaldi is one of the most expensive drugs to come on the U.S. market. The controversy surrounding the drug has drawn scrutiny from Capitol Hill as Sens. Ron Wyden (D-Ore.) and Charles Grassley (R-Iowa) recently asked for detailed information on the drug’s pricing.[/ms-protect-content]