The industry’s restraint comes as lawmakers of both parties in Congress and the Trump administration are advancing measures to try to curb costs.
Manufacturers set list prices, and say they need to keep raising prices to fund research on future medicines. What patients pay varies. Many people with health insurance pay a flat price far below the list price, but those with high-deductible insurance plans and certain seniors on Medicare can pay much more, sometimes the entire list price or a sizeable percentage of it..
The monthly Consumer Price Index does show that average drug prices people pay declined 2 percent from June 2018 to June 2019. But that’s because 90 percent of prescriptions filled in the U.S. are for generics, whose prices have been declining amid pressure from big drug distributors. That trend obscured price increases for the 10 percent of prescriptions filled with the more expensive brand-name drugs.
Many of this year’s brand name price increases were under 5 percent, and some drugmakers haven’t raised prices for over a year.Ajinomoto’s Cambrooke Therapeutics business hiked prices by 3,083 percent for five nutritional supplements needed by people with certain genetic conditions. A company spokeswoman declined to comment.
Stacie B. Dusetzina, a drug price expert and assistant professor of health policy at Vanderbilt University, thinks drugmakers may be trying to give Trump a political win by taking fewer increases and limiting them to their biggest moneymakers. Dusetzina said some drugmakers may be making up for that by launching their new drugs at higher list prices.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Goyard, the World’s Most Elusive Luxury BrandTheir bags are seemingly everywhere... so why does the French fashion designer insist on remaining so mysterious?
Read more »
Tesla Is An EV Brand Awareness Juggernaut Compared To CompetitionWhen asked what brands of electric vehicles they were aware of, 81% of consumers responding who said they are considering an electric vehicle purchase named Tesla.
Read more »
Can Victoria's Secret First Transgender Model Valentina Sampaio Save the Brand?'Brands are finally learning and catching up to the importance of inclusivity and diversity,' she tells ELLE.com
Read more »
Target is launching grocery brand Good & Gather in bid to boost its food businessTarget is launching its biggest brand yet, Good & Gather. Target expects the grocery label will be a multibillion-dollar brand by the end of 2020.
Read more »
This Entrepreneur Took Her Many Careers And Built An Innovative And Successful Lifestyle BrandPamela Schein Murphy created The Select 7 which features top tastemakers curating the things they love most.
Read more »
Wedding Gowns Aren’t the Main Story for This Brand-New Bridal DesignerSahroo designer Sarah Abbasi is introducing her first bridal capsule of ivory suits, caftans, and sets that can be mixed and reworn endlessly.
Read more »