Puma Biotechnology raised the price of its breast cancer drug, Nerlynx, by 20 percent this year, according to STAT.
Nerlynx is the small, Los Angeles-based drugmaker's only product and the company is struggling to make enough money. An increase in the price of its drug, designed as an early-stage treatment for a more aggressive form of breast cancer, is one solution to its financial problems.
The wholesale price for a bottle of Nerlynx was $11,445 at the beginning of 2019 and after two price increases of 9.9 percent each time, the price is now $13,823.
Since the drug was approved in July 2017, the price has increased by 31.6 percent, according to STAT. However, the company continues to lose money.
The price increases come as the pharmaceutical industry is under increased pressure to make prescription drugs more affordable.
"In the scheme of things, … it's one little company. But if every company did this, it would start to add up to a lot of money. And that’s the problem. So why should they get off the hook?" Ira Loss of research company Washington Analysis told STAT.
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