Merck releases 7 years worth of data on price hikes

In response to growing criticism over high drug prices, Merck released a report sharing information on the price increases of its drugs for the past seven years.

The report details the list prices of drugs, as well as net prices, which represent the amount of money Merck actually makes after factoring in rebates and other discounts, according to Business Insider.

Last year, Merck raised prices by an average of 9.6 percent. After factoring in rebates, that figure drops to about 5.5 percent, according to the report.

The discounts Merck pays to middle men in the pharmaceutical supply chain — like pharmacy benefit manufacturers and distributors — increased from 27.3 percent in 2010 to 40.9 percent in 2016.

"We've taken a close look at our pricing practices — and we believe we have a good track record," Adam Schechter, president of global human health at Merck wrote in an accompanying post on Merck's website. "Since 2010, Merck's average net price increase across our portfolio each year has been in the low to mid-single digits: specifically, 3.4 percent to 6.2 percent."

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