The cost of many popular prescription drugs has increased substantially in the US in the past 6 years, and the trend may continue if bold bipartisan action isn’t taken, according to a new study.
In the study, researchers from the Scripps Research Translational Institute analyzed Blue Cross Blue Shield pharmacy claims from 2012 to 2017, focusing on a total of 49 brand-name drugs that had more than 100,000 total claims each.
All but one of the drugs included in the study saw regular annual or biannual cost increases. The cost of 36 of the drugs increased over the six-year period by more than 50 percent, and the cost of 16 more than doubled. Overall, the median cost of the drugs included in the study increased 76 percent.and rheumatology drugs such as Humira and Enbrel had some of the largest increases in costs. The price of Humira, for example, rose from $1,940 in January 2012, to $4,338 by December 2017.
“Given the median annual cost increase of 9.5 percent, our results suggest the costs for popular brand-name drugs would double every 7 to 8 years,” the researchers wrote. What’s more, competition didn’t seem to stymie costs: Popular diabetes drugs like Humalog and Novolog continued to see large price increases despite doctors’ ability to prescribe them interchangeably.
The findings also suggest that prices of brand-name drugs are not largely affected by the availability of generic versions or bio-similar products.
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