'Big Pharma's yearly price hikes have pushed already sky-high drug prices into the stratosphere.' —peopleb4pharma
estimates that close to half of all new brand-name prescription drugs launched in the U.S. in 2020 and 2021 came with an original price tag of at least $150,000 a year, a finding that sparked fresh calls for Congress to rein in the pharmaceutical industry's virtually unchecked power to drive up costs.
"In 2020-2021, 47% of new drugs were initially priced above $150,000 per year," the researchers wrote."The trend in prices for new drugs outpaces growth in prices for other healthcare services." The study also shows that median launch prices of prescription drugs soared from $2,115 per year in 2008 to a staggering $180,007 in 2021.in response to the figures.
The authors of the new analysis stress that prescription medicine prices are rising so quickly in the U.S. because profit-seeking drug manufacturers are permitted to"freely set prices after approval," resulting in"Prescription drug spending in the U.S. exceeded half a trillion dollars in 2020," the researchers wrote."In response to the current trends, the U.S.
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