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State drug-pricing boards are trying to make medications more affordable.
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Welcome back! Having headaches? With digital therapeutics on the rise, one for preventative treatment for migraines just got FDA marketing authorization for the first time. Called CT-132 and developed by Click Therapeutics, the treatment can be used on an app to help relieve pain.

In today’s edition:

States setting drug prices

Tariffs spur public health worry

United’s earnings stress

—Caroline Catherman, Cassie McGrath

DRUG PRICING

Large scale pill with a price tag attached lays on top of the US map. (Credit: Anna Kim)

Anna Kim

Now that the US government is negotiating drug prices directly with manufacturers, states want to get in on the action, too.

These efforts vary by state, but generally involve creating a board to review drugs’ affordability and sometimes setting upper price limits (UPLs). While none have implemented UPLs as of April, as the idea gains momentum, there are questions about UPLs and boards’ legality, practicality, and whether they will actually lower costs for patients.

A legal first. Colorado, for instance, enacted legislation to establish a prescription drug board in 2021, and drug prices have continued to rise since then. Over the last year, that board reviewed five drugs and declared three unaffordable, including biopharmaceutical company Amgen’s Enbrel, a biologic which treats autoimmune disorders like rheumatoid arthritis. The state then moved to set a UPL for “all purchases and payer reimbursements” in February 2024.

Enbrel can cost about $8,000 a month without insurance, according to GoodRx, and cost insurers in Colorado $46,772 per patient in 2022, according to the Colorado All Payer Claims Database—though Amgen advertises a co-pay program promising insured patients can pay “as little as $0 out-of-pocket for each dose.”

Learn more about states’ role in drug price negotiations.—CC

Presented By Project Management Institute

TARIFFS

Scale with money and surgical mask, tipping over with weight of money.

Emily Parsons

It’s December 2019, and the world has not yet been rocked by the Covid-19 pandemic. N95 masks cost an estimated 44 to 70 cents per unit. And talks of tariffs are everywhere, as President Donald Trump prepares to issue a 7.5% tariff on medical supplies after denying an exemption.

The first cases of Covid-19 were detected soon after, and the need for personal protective equipment (PPE) like N95s, with costs shooting up to $12 per mask, became even more apparent, hitting hospital bottom lines hard.

In 2025, there’s a sense of déjà vu. Trump is back in office and tariffs are back on the table (though some have been paused for now). And according to many experts, like Jenn Kerfoot, chief strategy and growth officer at health tech company Duos, it’s not a matter of if there’s another global pandemic, but when. Between possible tariffs and the Trump administration's measures to defund and cut staff at public health agencies, experts are concerned preparations for the next public health emergency may be compromised.

“Tariffs under normal circumstances are moderate and uncomfortable,” Kerfoot said, and that gets even worse “when you increase the demand [for tariffed supplies] exponentially, like a global health crisis.”

NYC-based experts share based on their Covid-19 experiences.—CM

EARNINGS

Unitedhealthcare earnings

Stephen Maturen/Getty Images

UnitedHealth Group’s Q1 2025 earnings seemed less like a routine checkup and more like a triage.

While care patterns for commercial and Medicaid members were “as expected,” care activity in Q1 2025 for Medicare Advantage (MA) members increased at twice the rate of 2024, particularly for physician and outpatient services, UnitedHealth Group CEO Andrew Witty said during a Thursday morning earnings call. And as a result, United—the country’s largest MA provider—is taking a hit.

Plus, Optum, the company’s typically reliable healthcare services business, is struggling with unanticipated changes in its value-based care membership.

“This is far from the performance we expect from ourselves,” Witty said.

Get the rundown on United’s earnings here.—CC

Together With HOKA

VITAL SIGNS

A laptop tracking vital signs is placed on rolling medical equipment.

Francis Scialabba

Today’s top healthcare reads.

Stat: 30%. That’s how much HHS’s budget could be cut in a new budget proposal. (Politico)

Quote: “For far too long, drug middlemen called ‘pharmacy benefit managers’ have taken advantage of lax regulations to abuse customers, inflate drug prices, and cut off access to critical medications. Not anymore. These massive corporations are attacking our state because we will be the first in the country to hold them accountable for their anticompetitive actions.”—Arkansas Gov. Sarah Sanders on the state’s new bill to prevent PBMs and pharmacies from being part of the same company (Stat)

Read: Rates of eating disorders are increasing, but doctors still struggle to treat them. (the Wall Street Journal)

PMs in the spotlight: Skilled project managers are essential in healthcare. Thankfully, Project Management Institute offers resources like AI tools and certifications that can help project pros lead effectively. Access them with a free trial.*

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