Drug price increases added $815M to US medical spending: 3 things to know

A new report from the Institute for Clinical and Economic Review showed that recent unsupported price hikes for top-selling drugs contributed to $815 million to U.S. medical spending in 2023. 

Here are three things to know: 

1. The analysis, which assessed the top 10 drugs with the largest net price increases, found that five of these drugs raised prices without new clinical evidence to justify the increases. 
   
   
2. Among the drugs with unsupported price hikes were Biktarvy, Darzalex, Xelijanz, Entresto and Cabometyx. These drugs saw price hikes ranging from 3.6% to 6.7% without demonstrating substantial improvements, according to the ICER report. 
   
   
3. While five drugs were found to have price increases with new clinical evidence — such as cancer treatments Keytruda and Opdivo — the unsupported increases contributed a total $815 million in additional spending for U.S. payers. 

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