By: Dr. Geoffrey Modest
So, what’s wrong with this picture???
–Genentech came out with Lucentis, a new product in 2006 used by ophthalmologists to treat macular degeneration
–It costs $2000/dose
–It is “nearly equivalent” to Avastin and was approved only for this same indication. Several studies have concluded that “Lucentis has no significant advantage over its cheaper alternative”
–Avastin costs $50/dose
–Lucentis is one of Medicare’s most expensive drugs, costing the federal government $1 billion in 2010 . Avastin was still much more commonly used, though Medicare spent only $27 million on it that year. In fact a study in 2011 showed that if all patients on Lucentis had received Avastin, the government would have saved $1.4 billion
–And, many of the doctors “who were top billers for Lucentis were among the highest paid consultants for Genentech, earning thousands of dollars to help promote the drug”
–1/2 of the 20 doctors who received the most money from Genentech were among the highest users, “billing for higher amounts of Lucentis than 75% of their peers”, and also earning $8500 to $37000 in 5 months in 2013 for consultant and speaking fees.
–Genentech has even been paying “rebates” to doctors who use lots of Lucentis