Brand Drug Price Increases Continue To Slow, Latest AARP Data Show
This article was originally published in The Pink Sheet Daily
Branded pharmaceutical prices increased 6.6% on average for the 12 month period ended March 2005, a drop from the 7.1% average increase reported for the year ended December 2004.
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The latest "Rx Watchdog Report" says wholesale acquisition cost for 195 brand name drugs increased at double the rate of general inflation. Prices for 75 generic drugs rose 0.5%, less than one-fifth the inflation rate. A PhRMA study found consumer medical costs increased 4.7%, compared to 4% for branded and generic drugs.
Milliman study commissioned by PhRMA shows prescription drug CPI increased .9% in first quarter, lower than the 3.4% figure cited by AARP based on wholesale acquisition cost. Muse & Associates study shows Medicare drug discount cards offer average savings of 16.2% over cash prices available in November.
Firm notes strong uptake of the product in 2006, as well as more than $400 million in Thalomid sales for the year during earnings call.