Recent drug price hikes, says a letter led by SenWarren, 'appear to be an example of pharmaceutical companies taking advantage of their abusive market power to expand already large profits.'
Recent price hikes, says a letter led by the senator,"appear to be an example of pharmaceutical companies taking advantage of their abusive market power to expand already large profits."U.S. Sen. Elizabeth Warren and a dozen of her colleagues in Congress took aim at Big Pharma on Tuesday over"troubling price increases for brand-name drugs in January 2022."to Stephen J.
Findings from the first analysis, conducted by the University of Minnesota's Stephen Schondelmeyer, include that during the first 25 days of this year,"manufacturers increased prices for 72% of all formulations of the 100 top-selling drugs" and"26% of all brand-name drugs had price increases, compared to less than 3% of generic drugs."
These list prices—like the Average Wholesale Prices provided by Dr. Schondelmeyer—do not reflect discounts and rebates that some purchasers are able to obtain for these drugs. But as PhRMA has previously found,"commercially insured patients pay undiscounted list prices for one in five brand prescriptions, accounting for half of out-of-pocket spending on brand Medicines.
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