The first half of 2021 has seen more brand-name drug list price increases than all of 2020, according to an analysis by 46Brooklyn, a nonprofit drug research firm.
The increases reverse the downward trend in brand-name drug price increase frequency that's been observed over the last decade, 46Brooklyn reported.
Through July 10, there were 78 list price increases of brand-name drugs, a number nearly equal to the full amount of July price increases occurring in the last three years.
But despite 2021 having more list price increases than 2020, there is no change in the weighted average brand-name drug price increase. This suggests that though increases are happening more frequently than last year, the size of the increases is comparable to those over the last several years, 46Brooklyn reported.
The price increases in July 2021 have a modest weighted average increase of 2 percent, representing about $1.3 billion in prior year Medicaid expenditures.
Net prices have been declining despite list price increases, according to 46Brooklyn.
Find the full analysis here.