NEW YORK (Reuters) – Pharmaceuticals, including Abbvie Inc and Bristol Myers Squibb, raised U.S. list prices to more than 500 drugs by the beginning of 2021, according to an analysis by health research firm 46brooklyn.
The increases occur at a time when pharmaceutical companies are recovering from the effects of the pandemic COVID-19, which has reduced medical appointments and the demand for some drugs. They are also battling the Trump administration’s new drug price cut rules, which would reduce the sector’s profitability.
They include more than 300 price increases from companies like Pfizer and GlaxoSmithKline, reported by Reuters at the end of last week.
Almost all increases were below 10%, and the average increase was 4.8%, slightly below last year, 46brooklyn said here. The company’s analysis is based on data from Elsevier’s Gold Standard Drug Database.
Abbvie has raised prices for about 40 drugs, including a 7.4% increase in the treatment of Humira rheumatoid arthritis, the world’s best-selling drug. Humira’s revenue is expected to reach $ 20 billion next year.
Bristol Myers increased the prices of about a dozen drugs, including cancer drugs Revlimid and Opdivo, by 4.5% and 1.5%, respectively. He increased the price of the Eliquis thinner by 6%.
He said in a statement that he only increased drug prices with ongoing clinical research. She expects net prices, which include rebates and other discounts, to fall this year.
Increases in drug prices have decreased substantially since 2015, both in terms of the size of the increases and the number of drugs affected.
However, 46brooklyn said that its analysis of Medicaid data shows that the average cost per branded drug is still rising.
“Over time, we ended up eliminating 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 price increases losing their impact, launch prices will be the main driver of inflation for US list prices for medicines.”
Reporting by Michael Erman; Editing by David Gregorio