Biologics Lead the Way in Drug Price Increases Save
Reuters has reported the results of a recent Institute for Clinical and Economic Review (ICER) analysis showing that biologics, especially Humira and Rituxan, are leading the way in the cost of drugs in the USA.
All told, Humira and Rituxan topped a list of seven treatments whose combined 2017 and 2018 price hikes accounted for a $5.1 billion increase in U.S. drug spending. ICER said their analysis points to price hikes that were more than twice the rate of medical inflation and were not warranted by any new clinical evidence.
Also cited were other new drugs including, Lyrica, Truvada, Neulasta, Cialis and Tecfidera.
Drugmakers have been under increasing political scrutiny to lower costs to consumers and have responded by limiting annual list price hikes to under 10% in many cases.
ICER acknowledged it was difficult to determine the actual increase in spending on the drugs, but said it was confident that the seven drugs cost a lot more.
Humira’s net price increase over 2017 and 2018 added $1.8 billion in spending, while Rituxan added $806 million, the report indicated.