Drug Prices Continue to Increase Through the First Week of 2023
Humira [AbbVie] is up 8.00%
FAYETTEVILLE, NY, UNITED STATES, January 11, 2023/ EINPresswire.com / -- The new year stays busy as manufacturer reported drug price increases continue through the first week of January. After raising the prices of 369 brands on January 1st, with an average price increase of 5.32%, price increases continue to roll in. Through the first week of 2023, 563 single-source* brands have increased in price averaging 5.51%. Currently, inflation for 2022 is 7.1% and was 7.0% for 2021 to provide context for the drug price increases. Fifteen brands took price increases of at least 10.0% this year (see chart). Noteworthy brands taking price increases this year are Skyrizi [Abbvie] – used for the treatment of moderate to severe plaque psoriasis in adults, at 8.00%, Ibrance [Pfizer] – used to treat a certain type of breast cancer, at 7.90%, and Enbrel [Amgen] – used to treat rheumatoid arthritis, at 7.40%.
Overall, price increases ranged from a low of 1.00% for Adakveo [Novartis], used to reduce how often painful crises happen with people 16 years and older who have sickle cell disease, Celontin [Pfizer], used to prevent and control a certain type of seizure, and Synarel [Pfizer], used in women to treat endometriosis to a high of 26.76% for Omnipaque [GE Healthcare], used before X-ray imaging tests to add contrast.
When grouping brands into their respective therapeutic class, Thyroid Therapy had the highest percent increase at 10.00%, followed by Otic Preparations and Antimalarials at 9.90% each. See table for a complete list of therapeutic classes with price increases.
It’s not out of the ordinary for drug manufacturers to delay raising prices until later in January. DMD America will provide weekly updates through the end of the month.
Please note that these price changes affect list prices, or Wholesale Acquisition Cost* (WAC), that are set by the drug manufacturers without taking into account rebates, insurance, and other discounts that may be available.
AnalySource ® as of Jan 10, 2023 - Reprinted with permission by First Databank, Inc. All rights reserved. © 2023
* As determined by the Centers for Medicare and Medicaid Services
** First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy
About DMD America, Inc
AnalySource® is a registered trademark and drug pricing data solution service of DMD America, Inc. Since 1996, data has been made available in cooperation with First Databank, Inc. a subsidiary of the Hearst Corporation. Our service is licensed by subscription, with global clients including biotech, pharmaceuticals, government agencies, consultancies, academia, and more.
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