First Week of 2022 Averages 5.06% Increase
FAYETTEVILLE, NY, UNITED STATES, January 12, 2022 /EINPresswire.com/ — The new year begins with price changes on hundreds of single-source brand name drugs, as determined by the Centers for Medicare and Medicaid Services. Considering only price increases for the first week of January, a total of 458 brands rose an average 5.06% versus 483 brands averaging a 4.50% increase in 2021. Overall inflation for 2021 was 7.0% and 1.4% for 2020 to provide context for the drug price increases. Eighteen brands took price increases of at least 10.0% this year (see chart). Noteworthy brands taking price increases in 2022 were Tyblume [Exeltis] – an oral contraceptive at 15.79%, Nucynta [Collegium] – an opioid pain medication at 15.00%, and Tham [Hospira] – indicated for the prevention and correction of metabolic acidosis, at 10.00%.
Overall, price increases ranged from a low of 0.75% for Adakveo [Novartis], used to treat sickle cell disease in patients 16+ years of age, to a high of 25.00% for Atgam [Pfizer], used to treat moderate to severe aplastic anemia.
When grouping brands into their respective therapeutic class, analgesics had the highest percent increase at 9.54%, followed by diagnostic aids and antihyperlipidemic agents at 8.22% and 8.18% respectively. See chart for the complete list of therapeutic classes with price increases.
It’s not out of the ordinary for manufacturers to delay raising prices until later in January. DMD America will provide updates weekly through the end of the month.
Please note that these price changes affect list prices, or Wholesale Acquisition Cost* (WAC), that are set by the drug manufacturers without taking into account rebates, insurance, and other discounts that may be available.
As we begin 2022, rising drug prices continue to be a central health care concern in America. Democrats are working to limit the magnitude of increases in a bill that would, among other things, penalize drug manufacturers if price increases outpaced inflation. If passed, Medicare could negotiate prices on some of the most expensive drugs it covers. It is still unclear whether such provisions will remain in the final version of the bill, known as “Build Back Better.”
Source
AnalySource® as of Jan 10, 2022 – Reprinted with permission by First Databank, Inc. All rights reserved. © 2022
* First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy
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DMD America, Inc
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