The Biotechnology Innovation Organization is calling out insurance companies for sinking money into the Institute of Clinical and Economic Review group, which recommends its own drug prices to lower overall costs, according to The Hill.
Here are five things to know:
1. ICER is among the few drug data sources the public can access.
2. BIO claims insurers are attempting to pass off their responsibility to pay for more effective, costlier drugs.
3. In one ICER report, the group found treatment prices ranging from $432 to $974 per treatment vial.
4. Many pharmaceuctical companies, including Bristol Myers Squibb and Amgen, have criticized the ICER reports.
5. ICER receives 10 percent of its funding from insurance companies and 17 percent of its funding from the drug lobby.