Feb 2, 2024 05:16 AM
(This post was last modified: Feb 2, 2024 05:16 AM by C C.)
Insulin prices in US are more than twice as high as in other wealthy nations
https://www.eurekalert.org/news-releases/1033191
INTRO: The gross price of insulin in the U.S. is more than nine times higher than in 33 high-income comparison nations, according to a new RAND report. Although the cost differences of insulin between the U.S. and other nations varied depending on the comparison country and the type of insulin, U.S. prices were always higher -- often five to 10 times higher -- than those in other countries. The new report updates findings from earlier RAND work about U.S. insulin prices.
After accounting for rebates and other discounts often offered by drug manufacturers, the price of a unit of insulin remained 2.3 times higher in the U.S. than in comparison nations, according to the study.
“Insulin prices in the U.S. have been increasing for many years and are substantially higher than in other middle and high-income nations,” said Andrew Mulcahy, the study’s lead author and a senior health economist at RAND, a nonprofit research organization... (MORE - details, no ads)
US prescription drug prices are 2.78 times those in other wealthy nations
https://www.eurekalert.org/news-releases/1033172
INTRO: Prescription drug prices in the U.S. are significantly higher than in other nations, with prices in the U.S. averaging 2.78 times those seen in 33 other nations, according to a new RAND report. The gap between prices in the U.S. and other countries is even larger for brand-named drugs, with U.S. prices averaging 4.22 times those in comparison nations.
The RAND study found that prices for unbranded generic drugs -- which account for 90% of prescription volume in the U.S. -- are about 67% of the average cost in the comparison nations. The new report updates findings from earlier RAND analysis about U.S. drug prices. That analysis compared 2018 manufacturer gross drug prices in the U.S. with other nations using a price index approach.
The new report uses updated information through 2022. It also includes additional analysis that focuses on price comparisons for biosimilars and changes in price comparison results over time.
“These findings provide further evidence that manufacturers’ gross prices for prescription drugs are higher in the U.S. than in comparison countries,” said Andrew Mulcahy, lead author of the study and a senior health economist at RAND, a nonprofit research organization. “We find that the gap is widening for name-brand drugs, while U.S. prices for generic drugs are now proportionally lower than our earlier analysis found.” (MORE - details, no ads)
https://www.eurekalert.org/news-releases/1033191
INTRO: The gross price of insulin in the U.S. is more than nine times higher than in 33 high-income comparison nations, according to a new RAND report. Although the cost differences of insulin between the U.S. and other nations varied depending on the comparison country and the type of insulin, U.S. prices were always higher -- often five to 10 times higher -- than those in other countries. The new report updates findings from earlier RAND work about U.S. insulin prices.
After accounting for rebates and other discounts often offered by drug manufacturers, the price of a unit of insulin remained 2.3 times higher in the U.S. than in comparison nations, according to the study.
“Insulin prices in the U.S. have been increasing for many years and are substantially higher than in other middle and high-income nations,” said Andrew Mulcahy, the study’s lead author and a senior health economist at RAND, a nonprofit research organization... (MORE - details, no ads)
US prescription drug prices are 2.78 times those in other wealthy nations
https://www.eurekalert.org/news-releases/1033172
INTRO: Prescription drug prices in the U.S. are significantly higher than in other nations, with prices in the U.S. averaging 2.78 times those seen in 33 other nations, according to a new RAND report. The gap between prices in the U.S. and other countries is even larger for brand-named drugs, with U.S. prices averaging 4.22 times those in comparison nations.
The RAND study found that prices for unbranded generic drugs -- which account for 90% of prescription volume in the U.S. -- are about 67% of the average cost in the comparison nations. The new report updates findings from earlier RAND analysis about U.S. drug prices. That analysis compared 2018 manufacturer gross drug prices in the U.S. with other nations using a price index approach.
The new report uses updated information through 2022. It also includes additional analysis that focuses on price comparisons for biosimilars and changes in price comparison results over time.
“These findings provide further evidence that manufacturers’ gross prices for prescription drugs are higher in the U.S. than in comparison countries,” said Andrew Mulcahy, lead author of the study and a senior health economist at RAND, a nonprofit research organization. “We find that the gap is widening for name-brand drugs, while U.S. prices for generic drugs are now proportionally lower than our earlier analysis found.” (MORE - details, no ads)