Popping the Gross-to-Net Bubble, Part IV: Extreme Examples of Who Grew the Bubble
Pharmaceutical Commerce
JUNE 13, 2025
Bill Roth Key Takeaways Price hikes, not launch prices, drove the GTN bubble. The real driver of the gross-to-net (GTN) bubble was the pharmaceutical industry's ability to raise drug prices year after year—enabled by loopholes in PBM contracts—rather than high launch prices alone. to $750 per pill.
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