VRTX - Median Drug Prices For Rare Diseases Hit $300K In 2023 Report Highlights Lack of Clear Rationale Behind Escalating Drug Prices | Benzinga
In a significant trend, pharmaceutical companies in the U.S. introduced new drugs last year at prices 35% higher than in 2022, notably attributed to the industry’s focus on costly therapies for rare diseases such as muscular dystrophy.
The median annual list price for a newly launched drug in 2023 reached $300,000, marking a substantial increase from $222,000 in the previous year, according to a Reuters analysis.
This stark rise follows a steady climb from the 2021 median price of $180,000, emphasizing a persistent upward trajectory in drug pricing.
Among the 47 medications examined, the most expensive drug for consistent use was Regeneron Pharmaceuticals Inc’s (NASDAQ:REGN) Veopoz for CHAPLE disease, a rare inherited condition affecting fewer than 100 individuals globally.
Veopoz has an annual cost of $1.8 ...