Drug Prices from Major Brand Names Dropped ~50% Last Year
June 15, 2023
According to new data released by the Drug Channels Institute, brand-name drug prices from 10 key manufacturers dropped by half last year after discounts and rebates were accounted for. The manufacturers include Eli Lilly, Johnson & Johnson, Novo Nordisk. Much of the savings, however, have gone to pharmacy benefit managers.
According to Marc Iskowitz, “Power is concentrated in the top three PBM collectives of CVS Health (Caremark), Cigna (Evernorth/Express Scripts) and (UnitedHealth (OptumRx). Those three processed 80% of all equivalent prescription claims in 2021. The middlemen — and the secretive coverage arrangements they negotiate with drugmakers — have been in the national spotlight of late.”
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(Source: MM+M, June 14th, 2023)
