For the analysis, Reuters looked at the nation’s top 10 drugs, according to 2014 sales figures from IMS Health, and at proprietary pricing data provided by Truven Health Analytics.
Here are 10 findings from the analysis.
1. In some cases, major drug companies more than doubled listed charges for widely used medications.
2. Since 2011, prices for four of the nation’s top 10 drugs increased more than 100 percent, Reuters found. Six others increased more than 50 percent.
3. Overall, Reuters said, price increases on drugs for arthritis, high cholesterol, asthma and other common problems added billions in costs for consumers, employers and government health programs.
4. Turing Pharmaceuticals and Valeant Pharmaceuticals International are two companies that implemented extraordinary price hikes. Turing, for instance, anticipated bringing in $200 million by raising the price of Daraprim, an antiparasitic used for a rare infection, by 5,000 percent, according to Reuters, which cites company documents released by Congressional investigators.
5. AbbVie was also on the list of companies that implemented significant price hikes. Reuters found the company raised the price of arthritis drug Humira more than 126 percent since 2011.
6. Reuters found Amgen and Teva Pharmaceutical Industries raised prices for arthritis treatment Enbrel and multiple sclerosis drug Copaxone by 118 percent since 2011.
7. Based on IMS Health data, overall sales for the top 10 drugs went up 44 percent from 2011 to $54 billion in 2014, even though prescriptions for the medications decreased 22 percent, Reuters said.
8. None of the eight companies that sell the top 10 drugs disputed Reuters findings.
9. In general, drug companies told Reuters their prices are put in place to get back investments in failed drugs, support new research and development efforts and fund clinical trials to broaden the use of approved drugs.
10. Additionally, some of the drug companies pointed out to Reuters that its analysis of list prices failed to take into account all negotiated discounts and rebates — information they closely guard.
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