Price of Prescription Drugs Almost Threefold Higher in the United States

Follow Drugslib on

Medically reviewed by Drugs.com.

By Elana Gotkine HealthDay Reporter

MONDAY, Feb. 5, 2024 -- Prescription drug prices are nearly three times higher in the United States than in other countries, according to a report published by the RAND Corporation.

Andrew W. Mulcahy, and colleagues from the RAND Corporation, compared the prices of different categories of drug products, including brand-name originator drugs, unbranded generic drugs, biologics, and nonbiologic drugs. A prior analysis comparing 2018 prices was updated using data through 2022 and including new analyses relating to biosimilars and changes in price comparisons over time.

The researchers found that for 2022, U.S. manufacturer gross prices for drugs were 278 percent higher than those for 33 Organisation for Economic Cooperation and Development comparison countries combined. The findings varied, with U.S. prices for brand-name originator drugs 422 percent of those in comparison countries, while U.S. unbranded generics, which account for 90 percent of U.S. prescription volume, were 67 percent of prices in comparison countries. Even after adjustment to account for rebates paid by drug companies to U.S. payers and their pharmacy benefit managers, U.S. prices for brand-name drugs remained 308 percent of prices in other countries.

"We find that the gap is widening for name-brand drugs, while U.S. prices for generic drugs are now proportionally lower than our earlier analysis found," Mulcahy said in a statement.

More Information

Disclaimer: Statistical data in medical articles provide general trends and do not pertain to individuals. Individual factors can vary greatly. Always seek personalized medical advice for individual healthcare decisions.

Source: HealthDay

Posted : 2024-02-06 22:15

Read more

Disclaimer

Every effort has been made to ensure that the information provided by Drugslib.com is accurate, up-to-date, and complete, but no guarantee is made to that effect. Drug information contained herein may be time sensitive. Drugslib.com information has been compiled for use by healthcare practitioners and consumers in the United States and therefore Drugslib.com does not warrant that uses outside of the United States are appropriate, unless specifically indicated otherwise. Drugslib.com's drug information does not endorse drugs, diagnose patients or recommend therapy. Drugslib.com's drug information is an informational resource designed to assist licensed healthcare practitioners in caring for their patients and/or to serve consumers viewing this service as a supplement to, and not a substitute for, the expertise, skill, knowledge and judgment of healthcare practitioners.

The absence of a warning for a given drug or drug combination in no way should be construed to indicate that the drug or drug combination is safe, effective or appropriate for any given patient. Drugslib.com does not assume any responsibility for any aspect of healthcare administered with the aid of information Drugslib.com provides. The information contained herein is not intended to cover all possible uses, directions, precautions, warnings, drug interactions, allergic reactions, or adverse effects. If you have questions about the drugs you are taking, check with your doctor, nurse or pharmacist.

Popular Keywords