FAYETTEVILLE, NEW YORK, UNITED STATES, January 22, 2021 /EINPresswire.com/ — The pharmaceutical industry continues to increase the price of brand name drugs in January. After raising prices on 381 brands January 1st, with an average price increase of 4.5%, manufacturers have raised the price on 204 additional brand drugs through January 21st averaging 4.9%.
After January 1st, most price increases occurred on January 15th raising prices on 65 brands with an average increase of 4.9%. Price increases included 1.5% for Bavencio and Cerezume, which are used for cancer treatment and Type I Gaucher disease, respectively. The highest price increase was 9.0% for both Tecturna and Tecturna HCT, which are used to control high blood pressure. The third busiest day thus far for price increases was January 6th where 32 brands took price increases averaging 6.0%.
Other notable drugs taking price increases include Invokana, an oral diabetes medicine, at 4.8%, Rexulti, an antipsychotic medication, at 7.0%, and Xarelto, used to treat blood clots, up 4.8%. These three drugs took price increases on January 15th.
It is not out of the ordinary for manufacturers to continue to delay raising prices until later in January. DMD America will provide updates weekly through the end of the month. For more information on drug price increases, you can find our press releases on EIN Presswire Newsroom here: https://bit.ly/2Nkr0N7.
It is important to note we used, for this analysis, the Wholesale Acquisition Cost (WAC), a list price, that is set by the drug manufacturer without taking into account rebates, insurance, and other discounts that may be available.
* First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy
About DMD America, Inc
AnalySource® is a registered trademark and drug pricing data solution service of DMD America, Inc. Since 1996, data has been made available in cooperation with First Databank, Inc. a subsidiary of the Hearst Corporation. Our service is licensed by subscription, with global clients including biotech, pharmaceuticals, government agencies, consultancies, academia, and more.
About First Databank (FDB)
First Databank (FDB) is the leading provider of drug and medical device knowledge that helps healthcare professionals make precise decisions. We empower our information system developer partners to deliver valuable, useful, and differentiated solutions used by millions of clinicians, business associates, and patients every day. For more than four decades, our medical knowledge has helped improve patient safety, operational efficiency, and healthcare outcomes. For a complete look at our solutions and services, please visit www.fdbhealth.com.
Source: EIN Presswire