New Medicare payment data suggests competition is not a guaranteed solution for lower drug prices, Axios reports.
The data looked at drug price growth between 2016-17.
Some key highlights from the report:
- Of 17 drugs under Medicare Part B with 10-plus competitors, only five of them saw price hikes.
- Only 35 percent of drugs with between 6-10 competitors posted price increases.
- Of the 162 drugs with a single product, 69 percent saw price hikes.
To read the full report on Axios, click here.