Drug prices will rise by an average of 7 percent annually over the next three years, and meaningful price controls aren't likely to happen in the next three years, according to data cited by STAT.
Analysts from Cowen, an investment bank and financial services company, surveyed 26 hospitals, pharmacy benefit managers and health maintenance organizations that bought more than $52 billion in drugs in 2018.
The 7 percent average annual increase is up slightly from a year ago, according to STAT. Of those surveyed, 38 percent said they think at least three-quarters of the price hikes will be thanks to a shift to using newer, higher-priced drugs.
The government likely won't implement price controls on prescription drugs in the next three years, thanks to the uncertainty of the 2020 presidential election and disagreements between Republicans and Democrats on how to bring down drug costs, STAT reported.
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