NEW YORK (Reuters) – Drug makers, including Abbvie Inc and Bristol Myers Squibb, have raised US list prices to more than 500 drugs to start 2021, according to an analysis by health research firm 46brooklyn.
Hiking comes as drugmakers move away from the effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. It is also fighting the new rules to reduce drug prices from the Trump administration, which would reduce the profitability of the industry.
These include more than 300 price increases from companies such as Pfizer and GlaxoSmithKline reported by Reuters at the end of last week.
Almost all growth was below 10%, and the median increase was 4.8%, down slightly from last year, 46brooklyn said here. The company’s analysis is based on data from Elsevier’s Gold Standard drug database.
Abbvie raised prices on about 40 drugs, including a 7.4% increase in treatment with Humira rheumatoid arthritis, the world’s best-selling drug. Humira’s revenue is expected to exceed $ 20 billion next year.
Bristol Myers has raised prices on about a dozen drugs, including Revlimid and Opdivo, by 4.5% and 1.5%, respectively. The price of Eliquis blood thinner has increased by 6%.
He said in a statement that drug prices had risen only as a result of ongoing clinical research. Net prices, which include discounts and other rebates, are expected to fall this year.
Increases in drug prices have slowed substantially since 2015, both in terms of the size of the increases and the number of medicines affected.
However, 46brooklyn said the analysis of Medicaid data shows that the average cost per brand-name drug is still developing.
“Over time, we end up removing cheaper brands designed to treat large populations and replacing them with expensive brands designed to treat smaller populations,” wrote Eric Pachman, president of 46brooklyn. “With rising prices losing their impact, launch prices will be the main driver of US drug price inflation.”
Reporting by Michael Erman; Mountainous of David Gregorio