U.S. Prescription Drug Spending Climbs as Big Pharma Sets New Records for
Out-of-Control Launch Prices, Hikes Prices Faster Than Inflation and Blocks
Competition to Keep Prices High





 



DOSE OF REALITY: NEW CMS DATA UNDERSCORES HOW BIG PHARMA’S EGREGIOUS PRICING
PRACTICES ARE DRIVING INCREASED HEALTH CARE COSTS

U.S. Prescription Drug Spending Climbs as Big Pharma Sets New Records for
Out-of-Control Launch Prices, Hikes Prices Faster Than Inflation and Blocks
Competition to Keep Prices High



In case you missed it, a research article
<[link removed]> from
officials with the Centers for Medicare and Medicaid Services (CMS), published
in Health Affairs this month, highlights how Big Pharma’s egregious
prescription drug prices remain a major driver of U.S. health care spending.



According to the report, retail prescription drug spending increased 7.9
percent in the United States in 2024, totaling $467 billion. The increase in
retail prescription drug spending was even larger when looking at just the
Medicare Part D program, with a 12.9 percent increase in spending on
prescription drugs.



The report also found the number of new active substances in medications
launched by drug companies decreased from 65 in 2023 to 48 in 2024—the lowest
number of new active substances since 2019.



These statistics can be put in context by considering how Big Pharma is
driving health care inflation:

* Big Pharma continues to game the system
<[link removed]>
to block competition and keep drug prices high on top-selling products.
* Big Pharma continues to hike prices
<[link removed]>
on existing products at rates outpacing inflation.
* Big Pharma continues to dramatically increase
<[link removed]>
launch prices for prescription drugs first coming to market.
The newly released CMS data follows the release of a recent CSRxP analysis
<[link removed]>
revealing that the pharmaceutical industry continues to post profit margins10
times higher than other sectors of the prescription drug supply chain — fueled
by an egregious pricing and anti-competitive playbook that continues to drive
blockbuster profits.



Read the full research article from Health Affairs HERE
<[link removed]>.



Read more on CSRxP’s new margin analysis HERE
<[link removed]>
.



Learn more about market-based solutions to hold Big Pharma accountable and
lower drug pricesHERE <[link removed]>.



###

































Copyright © 2019 Campaign for Sustainable Rx Pricing
Our address is 1341 G St NW, #1100, Washington, DC xxxxxx


This email was sent to [email protected]. To unsubscribe please click
here.
<[link removed]>