Drug-makers didn’t raise list prices for as many drugs in January compared to last year and they initiated fewer hikes of 10% or more, according to analysis by Raymond James & Associates. Although 5.5% of price increases reached the 10% level in January this year, 15% did last year and 20% did 2 years ago.
However, the median drug-price increase held steady compared to last year at 8.9% – far exceeding the U.S. inflation rate of 2%.
Price increases held below 10% can still drive up total drug spending by hundreds of millions of dollars, according to the Wall Street Journal. AbbVie (NYSE:ABBV) raised the list price of its arthritis treatment, Humira, by 8.4% in January, and could bring in as much as $850 million in additional U.S. health-care spending.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.