Inflation drives the cost of newly launched prescription drugs even higher
Back in 2008, a gallon of gas cost $3, a loaf of bread was $1.37, and the median launch price of a new prescription drug was $2,115.
We all feel the effects of inflation. Today, our gas is more than $5 a gallon, bread is $1.61 and new prescription drugs cost $180,007 to launch.
You read that right – $180,007.
More than 47% of new drugs introduced in 2020 and 2021 cost more than $150,000 a year, according to researchers at Harvard-affiliated Brigham and Women’s Hospital in Boston. From 2008 to 2013, just 9% of new drugs cost more than $150,000 a year.
Much of the public’s attention has been focused on the rising cost of existing prescription drugs, but this study shows that the launch prices are also driving up prescription costs. Have you experienced this with a new medication? Share your story with Voices for Affordable Health.