Drug Price Inflation on the Rise

A new market projection by Vizient projects that inflation in drug prices is set to grow throughout the year, despite many drugs going generic or having biosimilars enter the market. The firm predicts that the drug price inflation rate will reach 3.78%, a jump from 2021’s increase of 3.2%.

According to , “Health insurers UnitedHealth (UNH) and Cigna (CI) have already decided to include Humira biosimilars at the same level as the branded version in their commercial formularies. AbbVie’s (ABBV) rebate agreements with Pharmacy Benefit Managers (PBMs) can also impact the cost-benefit of Humira biosimilars, said Ralph Pisano, President of rebate optimization company RemedyOne, ahead of Amjevita launch. However, based on data for the 12 months ending September 2022, Humira has regained its top position in Vizient’s member spend, which considers the changes in drug pricing and utilization.”

To read more, click here.

(Source: Seeking Alpha, February 5^th, 2023)