In case you missed it, a new analysis from the Kaiser Family Foundation (KFF) found Big Pharma hiked the price of 20 of the top 25 Medicare Part D drugs at rates three to nine times the rate of inflation between 2016 and 2017. Top brand name price increases included:
The analysis also found that “among the top 10 of this subset of drugs, list price increases exceeded the inflation rate by several percentage points.” Four of these top drugs are taken by over one million Part D beneficiaries.
Read the full KFF analysis HERE.
This data provides the latest evidence Big Pharma continues to price-gouge American patients, seniors and consumers. Washington simply must act to hold Big Pharma accountable with market-based solutions to increase competition, boost transparency and crack down on the industry’s egregious practices.
Fortunately, Congress has a real opportunity to enact meaningful change. There are a number of measures with bipartisan support in both chambers of Congress. Lawmakers must continue to work together, across party lines, to ensure these measures are passed into law.
See a CSRxP infographic detailing measures with significant bipartisan consensus in Congress HERE.
Read more on additional market-based solutions to hold Big Pharma accountable and lower drug prices HERE.