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The historic Inflation Reduction Act of 2022 has fundamentally improved the affordability of and access to prescription drugs for millions of people with Medicare. The law laid out aggressive timelines for implementing the Medicare DrugPrice Negotiation Program.
During 2023, drugmakers substantially raised prices on five widely used medicines without any new clinical evidence to justify the increases, leading patients and health insurers in the U.S. to spend an additional $815 million last year, according to a new report.
For the moment, the state has not fined the company, although it may yet do so, according to a consent order. A department spokesperson declined to comment. However, the audit was released two months after Express Scripts had been ordered to pay a $250,000 fine for failing to reimburse a pharmacy.
The FDA has also demonstrated that greater competition among generic drug makers can lead to lower generic drugprices. Studies have shown that the market entry of just a few generic competitors can yield generic prices below the brand price, and that generic drugprices decline with additional competition.
drugpricing, reimbursement, and dispensing system. For 2024, DCI estimates that total prescription dispensing revenues at retail, mail, long-term care, and specialty pharmacies reached $683 billion, up 9% from the 2023 figure. It’s the 16th edition of our popular and comprehensive examination of the entire U.S.
The NHC supports the efforts to reduce out-of-pocket costs for Medicare beneficiaries and appreciates CMS’ work to establish a process that seeks to incorporate patient perspectives into drugpricing policy. This will allow other stakeholders (e.g.,
Importantly, this type of insight also supports smarter negotiations around drugpricing. In communities where there is only one pharmacy – or none – there is no competition to drive down prices. By identifying these regions, PBMs can better advocate for fair pricing models that reflect real-world access challenges.
During 2023, drugmakers substantially raised prices on five widely used medicines without any new clinical evidence to justify the increases, leading patients and health insurers in the U.S. to spend an additional $815 million last year , STAT writes, citing a new report.
This pathway’s expanded use and shifting Centers for Medicare & Medicaid Services (CMS) policies are reshaping reimbursement practices and therapeutic equivalence standards for 505(b)(2) drugs. From 2003 to 2023, 943 drugs were approved through the 505(b)(2) pathway.
Known as the negotiators between health plans, pharmacies and drug companies, pharmacy benefit managers are currently entangled in a national conversation about reform. The pharma industry has long blamed PBMs for rising drugprices, pointing to opaque rebate and profit structures , and proposed policy shifts could take them to task.
In 2023 alone, the US biopharmaceutical industry exported approximately $101 billion worth of pharmaceutical goods, demonstrating its critical role in sustaining American jobs in high-value, research-intensive sectors. Food and Drug Administration, Importing Biologics and CBER Regulated Products. Consumed Medicines Produced in the U.S.
According to Trump, patients could see cost reductions of 30% to 80%, but experts question the feasibility and practicality of implementing such a policy within the complex United States drugpricing and supply system. Kennedy Jr, is permitted to develop a new rule that ties American drugprices to those of other nations.
Ongoing partnership and past supply challenges AstraZeneca has been working hand-in-hand with Sanofi on the production front since its launch in 2023. during the 2024-2025 RSV season compared to the 2022-2023 season, per data presented at the 43rd Annual Meeting of the European Society for Pediatric Infectious Diseases (ESPID).
For example, Recordati’s Cystadane (betaine) was centrally approved in 2007 but did not see its first reimbursement in Poland until 2023. compared to 861 days in 2023. The average time to pricing and reimbursement, common measures of availability, recorded the highest values in 2024, including an annual increase of 2.3%
The industry is awaiting guidance on a rebate approach to the contentious drug discount program for hospitals and aiming for tighter oversight. The 340B DrugPricing Program has long been a contentious issue for pharma. Please let us know if you have feedback.
Go deeper with GlobalData Reports Chemotherapy in Pharmaceuticals: Platinum-based cancer drug composi. Notably, priorities have shifted since 2023 in favour of greater competitiveness, he adds. How will RFK Jr’s American dream for vaccines play out?
3 GlobalData’s analysis shows that the number of clinical trial investigators globally fell from approximately 128,303 in 2017-18 to 116,948 in 2023-24 – a decline of almost 10%. 9 Rising direct trial costs and lost revenue due to delayed approval are key factors driving the total cost of bringing a new drug to market to a staggering $2.3bn.
Only 4% of global drugs sales will have patent protection, compared to 12% and 6% in 2022 and 2024. Go deeper with GlobalData Reports Chemotherapy in Pharmaceuticals: Platinum-based cancer drug composi. Reports Future of Pharma - Looking Ahead to 2023 Data Insights The gold standard of business intelligence.
Trump signed an executive order titled “Delivering Most-Favored-Nation Prescription DrugPricing to American Patients,” with the objective of lowering drugprices, namely on branded drug products, for American consumers. How Does DrugPricing in the US Compare With Other Countries? October 4, 2023.
EU’s Pharma Package falls short of Europe’s goal of global competitiveness Why can’t the US figure out weight loss drugprices? The company aims to include a hormone-sensitive indication for the therapy, which received its initial approval in 2023. Sign up for our daily news round-up!
Sectors Sections Clinical Trials Drug Manufacturers Therapy Area Pricing and Market Access Latest E. The acquisition is Merck’s first of 2025 and is its largest since the $10.8bn acquisition of Prometheus Biosciences in 2023. How will RFK Jr’s American dream for vaccines play out? Sign up for our daily news round-up!
So if we can reduce some of the unnecessary cost and time of the six to 15 months toxicity and animal testing period, we can lower barriers to entry, we can lower R&D costs, and we can ideally lower drugprices, which is a big goal for this administration.”
Go deeper with GlobalData Reports Future of Pharma - Looking Ahead to 2023 Reports China Contract Manufacturing Market Outlook - Trends, Ambitions, Ke. If successful, India will become the first country to sign a bilateral trade agreement (BTA) of such with the US during President Trump’s second term in the White House.
Antiviral Biktarvy is the company’s top-selling HIV drug, generating global revenue of $13.4bn in 2024, an increase of 13% compared to 2023. June was a mixed month for Gilead in the HIV treatment space, as the FDA paused several clinical trials evaluating two drug candidates due to safety concerns.
Elevidys is the product of many years of research into the deadly neuromuscular condition and, in 2023 , became the first and currently only gene therapy for the disease approved in the U.S. The Food and Drug Administration’s clearance was controversial. You can unsubscribe at anytime. Registered in England and Wales. TechTarget, Inc.s
July 15, 2025 Share Copy Link Share on X Share on Linkedin Share on Facebook The drug is intended for children aged six months and above with homozygous familial hypercholesterolemia. This decision follows the initial approval granted in September 2023, which covered patients aged five and above.
By GlobalData Learn more about Strategic Intelligence While stimulants are fast acting, with side effects felt soon after administration, non-stimulant drugs take longer, yet can offer an alternative if drugs like methylphenidate and lisdexamfetamine dimesylate do not work.
This could transform the current drugpricing model, shifting from regular doses over time to a single treatment. How will RFK Jr’s American dream for vaccines play out? However, the success or failure of treatments can all rest on logistics. of the global market, valued at $39.3bn.
Meury, whose appointment is effective immediately, previously ran Anthos Therapeutics, which he sold this year to Novartis for nearly $1 billion, and Karuna Therapeutics, which Bristol Myers Squibb bought for $14 billion in 2023. You can unsubscribe at anytime. Prior to those posts, Meury was chief commercial officer at Allergan.
The first collaboration was announced in March 2023 for neurodegenerative diseases, and the second in December 2023 focused on discovering oligonucleotide therapeutics. How will RFK Jr’s American dream for vaccines play out?
In 2024, the US Food and Drug Administration (FDA) approved 19 biosimilars – a significant increase from the five approved in 2023. How will RFK Jr’s American dream for vaccines play out? By inhibiting RANKL, denosumab hampers the bone degradation process, bolstering bone density and strength. Sign up for our daily news round-up!
In 2023, AstraZeneca licensed LM-305, a G-protein targeting-ADC, for $600m. Across big pharma, transactions rose 66% from $16.6bn in 2023 to $41.5bn in 2024, demonstrating that China is still the go-to place to discover pipeline candidates. How will RFK Jr’s American dream for vaccines play out?
IRA reforms Industry advocates have pushed for reforms to the IRA since it passed during the Biden administration, with the focus squarely on the Medicare drugprice negotiation program. Currently, the program exempts orphan drugs from price negotiations if they only have one indication for rare disease.
Lexeo will assess the drug’s efficacy by measuring levels of a protein called frataxin and reductions in left ventricular mass index, under an agreement with the Food and Drug Administration on the design of a planned registrational study. The company has faced some bumps along the way, including a smaller-than-projected IPO in 2023.
accumulated in 2023. Still, sales of the drug grew 12%, unlike Trogarzo, which dropped 8% due to “competitive pressures” in the multidrug-resistant segment of the HIV market. How will RFK Jr’s American dream for vaccines play out? In April 2025, Future Pak tabled a $255 offer, which has now been accepted by the drugmaker.
Akeega has been approved in Europe for the treatment of metastatic castration-resistant prostate cancer (mCRPC) in combination with steroid hormone prednisolone since 2023. J&J is now attempting to widen the drug’s application to patients with metastatic hormone-sensitive prostate cancer (mHSPC).
billion buyout of Blueprint Medicines is the sector’s second-largest M&A deal this year and represents the highest value paid for an immune drug developer since April 2023. You can unsubscribe at anytime. Sanofi’s $9.1 Sanofi’s $9.1 Informa PLCs registered office is 5 Howick Place, London SW1P 1WG.
Elevidys was approved by the FDA in 2023 as the first gene therapy for Duchenne, a genetic disorder that results in progressive muscle weakening and typically early death. You can unsubscribe at anytime. Informa PLCs registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. TechTarget, Inc.s Newton, MA 02466.
In August 2023, Zegfrovy received clearance in China based on results from another significant trial, WU-KONG6. How will RFK Jr’s American dream for vaccines play out? Dizal recently completed patient enrolment for its Phase III WU-KONG28 study spanning 16 countries and regions. Sign up for our daily news round-up!
Sectors Sections Clinical Trials Drug Manufacturers Therapy Area Pricing and Market Access Latest E. This is particularly evident in the rise of antibody-drug conjugates (ADCs), which combine the specificity of antibodies and the potency of cytotoxic drugs. Yet by 2023, the market value had risen to $9.2bn.
Compounded GLP-1RAs have completely disrupted pricing frameworks for Wegovy and Mounjaro, what happens now? Robert Barrie June 27, 2025 Share Copy Link Share on X Share on Linkedin Share on Facebook The list price for a month’s supply of 2.4mg Wegovy – the drug’s highest does – is $1,350 in the US, whereas the same dose in the UK costs £175.80
By GlobalData Learn more about Strategic Intelligence In April, GlobalData business fundamentals analyst Alison Labya said: “The Trump administration has introduced uncertainty to the biopharmaceutical industry across healthcare policies, drugpricing reforms, and regulatory frameworks, all of which could impact investor confidence.
The study team has compared HIV tests, HIV diagnoses and antiretroviral therapy (ART) initiations from 2023 to 2025 and has already seen that testing decreased by 8.5% How will RFK Jr’s American dream for vaccines play out? from Q1 2024 to Q1 2025. There was also a 31% decline in HIV diagnoses and a 30% decline in ART initiations.
The sample was also limited to younger retirees, excluding post-enrollment cancer diagnoses, and assessing any switching behavior over time, with analyses conducted using SAS Studio between the November 2023 and October 2024 timeframe. JAMA Netw Open. 2025;8(6):e2513394. doi: 10.1001/jamanetworkopen.2025.13394
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