A brand new research out of Brigham and Women’s Hospital exhibits how newly marketed brand-name medication within the U.S. are driving up well being care spending, leading to “detrimental effects for patient access and affordability.”
From 2008 to 2021, launch costs for brand spanking new medication jumped by greater than 20% per 12 months, in accordance with the analysis from Benjamin Rome and colleagues who studied 548 brand-name medication.
Also, the proportion of medication priced above $150,000 per 12 months spiked from 9% in 2008-2013 all the best way to 47% in 2020-2021.
The rising costs for brand spanking new brand-name pharmaceuticals are growing quicker than different well being care providers, stated Rome who added that the skyrocketing costs end in “detrimental effects for patient access and affordability.”
“These trends demonstrate that we urgently need Congress to pass comprehensive drug pricing reform, including allowing Medicare to negotiate prices,” stated Rome, who’s within the Division of Pharmacology and Pharmacoeconomics within the Department of Medicine at Brigham and Women’s Hospital.
“The most recent reforms included in the Build Back Better Act were a good start but they would not have allowed Medicare to negotiate prices on new drugs for 9 to 13 years after they are launched,” he added. “Other countries negotiate prices for drugs soon after they are marketed, based on the clinical benefits they offer to patients over existing therapies.”
This research included all kinds of medication, together with therapies for uncommon illnesses, most cancers therapies, and customary circumstances like diabetes and coronary heart illness.
Some examples of high-spending medication embody adalimumab (Humira), Apixaban (Eliquis), lenalidomide (Revlimid), and empagliflozin (Jardiance).
“In response to the current trends, the U.S. could stop allowing drug manufacturers to freely set prices and follow the example of other industrialized countries that negotiate drug prices at launch,” the researchers wrote within the Journal of the American Medical Association.
Prescription drug spending within the U.S. exceeded half a trillion {dollars} in 2020.
Source: www.bostonherald.com”