Drug costs fluctuate by more than 600% worldwide: 4 study findings

Drug prices vary greatly among high-income countries with universal healthcare coverage, according to a study published in Canadian Medical Association Journal.

For the study, researchers analyzed 2015 data on the volume and cost per day of prescription drugs purchased in seven European countries: Australia, Canada and New Zealand. They also calculated total per capital expenses for six drug categories: hypertension medications, painkillers, lipid-lowering medicines, noninsulin diabetes drugs, gastrointestinal preparations and antidepressants.

Here are four study findings

  1. The average per capital annual drug expenses varied by more than 600 percent across the 10 countries.

  1. New Zealand had the lowest annual per-person drug cost at $23, and Switzerland had the highest at $171.

  1. In the five countries with a universal, single payer health system, the average per capital cost was $77, compared to $99 for the four countries with universal social insurance and $158 in Canada, which uses a mixed payer system.

  1. The volume of drugs purchased by each country differed by 41 percent.

More articles on supply chain:

Cancer drugs may be just as effective — and cheaper — at lower doses, oncologists say
Supply chain tip of the day: Rein in office supply costs with a limited formulary
FDA rejects biosimilar of Amgen cancer drug: 4 things to know

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars