NORWALK—State Senator Bob Duff (D-Norwalk) today announced that he has appointed Elsa Peterson Obuchowski of Norwalk to the state task force that is studying value-based pricing for prescription drugs.
Value-based pricing of prescription drugs is an approach to prescription drug pricing that attempts to balance the benefits of a drug with its costs; under such a system, pharmaceutical companies are generally required to detail how they arrive at the retail price of a new drug while also more clearly demonstrating its value to patients, such as proven health outcomes.
“Elsa is going to be part of a broad group of individuals whose talents and interests all coalesce around one very important and fundamental goal: to bring some sanity, some reason to the outrageous cost of prescription drugs,” Sen. Duff said. “Millions of Americans saw their medication costs go up last year; some are paying thousands of dollars a month for one script. We want to get a handle on some cost-containment measures to help Connecticut residents cope.”
Some believe that value-based pricing should also allow drug prices to be set by objective, independent agencies that use evidence and data to arrive at the retail sales price.
The 13-member task force is charged with identifying best practices in the value-pricing of drugs with a focus on improving health and containing initial costs.
“I hope to bring an average consumer’s sensibility and point of view to this very important and complex subject. It’s long past the time for drug prices to come down to real-world levels to help address the real-world medical problems of many drug consumers,” Obuchowski said.
