Since the start of the year, nearly 600 drugs have seen price hikes, according to new data from GoodRx.
So far in January, 589 drugs have had price increases, with an average jump of 4.2%. Of those, 582 are branded products and seven are generics, GoodRx found.
"Amidst the worst of the pandemic, drug prices continue to rise," Tori Marsh, director of research at GoodRx, wrote in the blog post. "Each year, in January and July, manufacturers raise the list price of their medications, and we predict that this year will be no different."
By comparison, in January 2020, 639 drugs saw price hikes, averaging 6%. In January 2019, 482 drugs saw increases averaging 5.2%.
The price increases tracked by GoodRx are list price hikes. The degree to which patients feel the impacts of list price increases downstream is debated within the industry, but a recent study from the prescription discount company suggests list price hikes do have trickle-down effects.
Which drug list prices jumped the most, according to GoodRx? Take a look:
- Teva had six drugs increase by 9.4%. They included LoSeasonique and Seasonique, both birth control drugs, as well as Nuvigil, which is used for sleep disorders. They also include Prefest, which treats symptoms of menopause, and aygestin, use to treat uterine bleeding and endometriosis.
- Concordia Pharmaceutical’s Dutoprol, a beta blocker, jumped 9.2%.
- Recordati Rare Diseases raised the price of Isturisa, a drug that helps patients with Cushing’s disease, by 9%.
- GlaxoSmithKline’s Pediatrx, which is a vaccine used to immunize children against diphtheria, pertussis, tetanus, hepatitis B and polio, increased by 8.6%.
The study, released in late December, found that nearly half (47%) of list price increases have trickled down to cash price increases that were at least as high for patients since 2014.
In addition, 80% of increases have trickled down to the National Average Drug Acquisition Costs, which is what pharmacies pay for a drug, according to the study.
The study also found that list prices for all drugs have increased 32% since 2014, and more than 90% of the most popular branded drugs have seen at least one increase in that window.