FAYETTEVILLE, NEW YORK, UNITED STATES, February 4, 2021 /EINPresswire.com/ — On January 1st, the pharmaceutical industry raised prices on 381 brand drugs averaging 4.5 percent. Since then, an additional 230 brands increased prices through the end of January, averaging a 5.1 percent increase. The biggest increase was 26.0 percent on Vaprisol-5% Dextrose (Cumberland Pharmaceuticals), used to elevate sodium levels. The next largest increase was 19.9 percent for Axumin (Blue Earth Diagnostics), an advanced diagnostic imaging agent. Notwithstanding these two exemptions, all price increases for January were 10.0 percent or less.
It is not out of the ordinary for price increases to occur throughout the month of January. Typically, the first week of the new year has the most activity in price increases. 2021 was no exception with nearly 80 percent of increases occurring the first week.
The second and third weeks of January had only 102 brands increasing prices of the 611 total for the month. Only 24 brands increased price the final week of January and none increased price more than 9 percent.
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It is important to note we used, for this analysis, the Wholesale Acquisition Cost (WAC), a list price, that is set by the drug manufacturer without taking into account rebates, insurance, and other discounts that may be available.
* First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy
About DMD America, Inc
DMD America Inc. is a global data solution provider for drug pricing and product information delivered through our web-based service, AnalySource®. Utilizing the Medknowledge database made available through our relationship with First Databank, Inc. we serve the analytical and competitive intelligence needs of the bio/pharma industry, government, consultancies, health systems, and academia. Since 1996 our team has provided uncompromising client support and a focus on innovation in all aspects of our data service and company. Through AnalySource® we remain the industry leader for drug pricing, customized data pulls, ad hoc analytical reports, and government compliance form production.
About First Databank (FDB)
First Databank (FDB) is the leading provider of drug and medical device knowledge that helps healthcare professionals make precise decisions. We empower our information system developer partners to deliver valuable, useful, and differentiated solutions used by millions of clinicians, business associates, and patients every day. For more than four decades, our medical knowledge has helped improve patient safety, operational efficiency, and healthcare outcomes. For a complete look at our solutions and services, please visit www.fdbhealth.com.