TEVA - Analysis: Major Pharmaceuticals' January Drug Price Hikes Were Smallest in at Least 6 Years
When major drugmakers delivered their customary January price hikes last month, they increased the list prices of their products by an average of 5%, according to an analysis by Raymond James. The investment bank, utilizing data from IQVIA and Wolters Kluwers, reports that this was the smallest price increase since at least 2014.
That comports with the industry's trend. In 2014, its average annual January price hike was 12%; since then, the rate has steadily fallen.
"Given the transparency the public and the government is continually seeking from the industry, combined with administration initiatives to slow the rate of list price increase levels, WAC list price increases should continue to trend toward the low to mid-single digits with longer-term potential to reach levels consistent with changes in overall inflation metrics," wrote Elliot Wilbur, the report's author.