176. Pills, Profits, and Power: The Fight to Reform Big Pharma

In this episode of Medicine Redefined , Darsh and Altamash take a deep dive into the complex world of medications with Dr. Vinay Patel, pharmacist and founder of MakoRx. Dr. Patel exposes the hidden realities behind Big Pharma, explaining why generic drugs can be so confusing and revealing the true factors driving skyrocketing pharmacy prices. We also explore how cutting-edge AI technology is revolutionizing drug discovery and development.

This conversation will fundamentally change how you understand the medications you rely on every day. Whether you’re a healthcare professional or simply curious, this episode delivers powerful knowledge and a fresh perspective. Tune in!

TIMESTAMPS

00:00 Introduction to Medicine Redefined00:36 Meet Vinay Patel: Healthcare Innovator01:04 Understanding PBMs: The Hidden Middlemen02:47 The Evolution of PBMs05:29 Vertical Integration and Its Impact15:52 The Complexities of Drug Pricing26:30 Compounding Pharmacies and GLP-1 Medications34:15 Mark Cuban's Cost Plus Solution37:39 The Dominance of Employer-Based Health Insurance39:46 The Generic vs. Brand Medication Debate40:52 Challenges in Generic Drug Manufacturing45:05 The Role of Pharmacists in Medication Management50:50 Solutions for a Broken Healthcare System53:54 Introduction to Make O Rx58:29 Overcoming Barriers in the Healthcare Market01:01:31 The Future of Pharmaceuticals and AI01:05:54 Key Takeaways for Healthcare Providers01:08:04 Final Thoughts and Contact Information

SOURCES

• 00:19: Price We Pay Book

• 01:35: Pharmacy Benefit Management History

• 03:24: Medical Modernization Act

• 03:53: Affordable Care Act

• 04:13: Vertical Integration

• 04:33: Big Three Control 80% of Prescriptions

• 04:56: 20% of Smaller Companies

• 05:40: Tyson Foods RightWay

• 06:01: Smaller PBMs Gaining Traction

• 07:42: Antitrust enforcement in healthcare

• 08:22: Affordable Care Act and High Deductible Plans

• 09:24: Gag clauses

• 09:58: Trump’s Law to Eliminate Gag Clauses

• 10:39: Elizabeth Warren and Josh Hawley's Bill on PBMs

• 13:25: Clawbacks

• 14:32: Clawback disclosure law

• 14:52: Losing money on drugs

• 15:00: GLP-1 drugs

• 16:27: Info on drug pricing

• 17:05: Insurance companies set drug prices

• 22:01: Article on rebates

• 22:30: Net prices have gone down

• 22:39: List prices have gone up

• 24:21: Deep dive into drug prices in US

• 24:45: US VS Europe drug pricing

• 26:49: US subsidizes the world’s drug prices

• 27:32: History of Ozempic

• 28:31: Current status of Ozempic shortage

• 29:11: Compounding drugs law

• 32:21: Compounding pharmacy creditation

• 34:42: Alliance for pharmacy compounding

• 35:35: Cost plus

• 36:16: NADAC

• 39:27: Number of people on employer health insurance

• 41:35: Bottle of lies

• 56:55: Mako RX

  
  

Dr. Vinay Patel’s contacts:

• Email:  vinay.patel@makorx.com.

• LinkedIn: https://www.linkedin.com/in/vinaypharmd/