Mytesi (Napo Pharmaceuticals, Inc) Up 230 Percent
FAYETTEVILLE, NEW YORK, UNITED STATES, September 4, 2020 /EINPresswire.com/ — With rising drug prices being one of the biggest health concerns in the United States in 2020, more than 200 drug manufacturers have raised prices on 645 brands with an average price increase of 5.9% through August 2020. This comes in slightly lower than last year during the same time period where 659 brands had an average price increase of 6.6%. Among brands taking price increases this year include Nitro-Dur (Ingenus), used to prevent angina, up 50.0%, Metopirone (Laboratoire HRA Pharma), used to check the pituitary gland’s function, up 37.4%, and Marplan (Validus Pharms Inc), used to treat depression, up 14.9%. Through August, fourteen brands have had price increases of at least 10.0% (see chart).
Overall, price increases for the first eight months of 2020 range from a low of 0.6% for Tisseel VHSD (Baxter Healthcare) to 230.0% for Mytesi. Back in May of this year the manufacturer of Mytesi, Jaguar Health Inc, was asked by Representative Carolyn Maloney, the chair of the House Oversight Committee, and Representative Jackie Speier, a fellow Democratic committee member, to reverse recent price hikes and provide information on the price increases.
These price changes affect list prices, or Wholesale Acquisition Cost* (WAC), that are set by the drug manufacturers without taking into account rebates, insurance, and other discounts that may be available.
As drug prices continue to rise in the United States, both Capitol Hill and President Trump have taken notice. Both sides of the aisle have been pushing their own solutions and July 24, the President signed four executive orders designed to cut prescription drug prices by focusing on drug importation, drug maker rebates, insulin and EpiPen discounts, and international drug pricing. With the presidential election just over two months away, drug prices will most likely continue to be a major concern for voters.
* First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy
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