Drugmakers push their prices higher

Twenty companies raised the list prices of more than 40 prescription drugs by an average of 13.1% on Monday, according to Rx Savings Solutions. On July 1 last year, 16 companies raised the list prices of dozens of drugs by an average 7.8%. Drug companies had typically raised list prices at the start of the year and again 6 months later.

Twenty companies raised the list prices of more than 40 prescription drugs by an average of 13.1% on Monday, according to Rx Savings Solutions. On July 1 last year, 16 companies raised the list prices of dozens of drugs by an average 7.8%. Drug companies had typically raised list prices at the start of the year and again 6 months later. Many pharmaceutical companies have pledged to raise their drugs' list prices by less than 10% each year. During the first quarter of 2019, list prices for U.S. branded drugs increased 3.3%, compared with 6.3% a year earlier, according to SSR Health LLC pharmaceutical analysts. Monday's price changes include increases on different doses and package sizes for the same drug. Health plans usually do not pay a drug’s list price, which does not account for discounts and rebates. But patients can pay the list price while in the deductible portion of their coverage. Industrywide, drug prices after rebates have been falling as list prices rise, according to data from SSR Health. Many of the drugs whose prices went up Monday are used regularly by hospitals. Both FDA and University of Utah Drug Information Service, which tracks drug shortages, have identified several dozen products as being in short supply.