Brand-name drug price hikes are fewer, but still above inflation

Alia Paavola - Print  | 

The frequency of brand-name drug price hikes dropped from about 3,300 increases in 2015 to about 1,800 in 2018, but the amount of those increases still exceeds inflation, according to data compiled by 46brooklyn Research.

Six things to know:

1. Between 2015 and 2018 there were more than 10,000 price hikes on brand-name drugs overall. While a large percentage of drugs saw price hikes in 2018, there were 1,500 fewer drug price hikes than 2015.

2. Last year, the prices of about 130 drugs declined.  This is compares to 71 drug price declines in 2015.

3. As of Jan. 16, the prices of 749 drugs have increased.

4. Over the four-year period tracked, public outrage grew over the rising price of medications. This suggests that while there were fewer price increases, there was not enough done to alleviate the burden on consumers and payers.

5. The data shows that manufacturers are raising prices less frequently, but the price hikes are still above inflation.

6. Over the four-year period tracked by 46brookyln research, Pfizer had the most price hikes with 2,300.

Find the data here.

More articles on pharmacy:
Bayer to shut down Pennsylvania plant, eliminate 600 jobs
New drug shortages rose 27% in 2018
FDA moves to fast-track OTC naloxone

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