Price Increases by Drug Manufacturers to Start July 2023

FAYETTEVILLE, NEW YORK, UNITED STATES, July 18, 2023/EINPresswire.com/ -- Price Increases Range from 0.54% to 10.00%
July is historically the second busiest month for price increases for drug manufacturers, and we are seeing that this is the case again this year. The first week of July has seen 59 manufacturers raise prices on 105 brands* with a price increase averaging 3.80%. There are 9 brands that all raised their prices by 10%.

Overall, current July price increases range from a low of 0.54% for Licart [IBSA Pharma], a topical treatment for acute pain, to the 8 products that have increased prices by 10%.

Currently, 847 brands have taken price increases in 2023, averaging 5.46%. Price increases range from a low of 0.26% with Clorotekal [B. Braun], used as a local anesthetic, to a high of 478.22% for Entadfi [Veru/Blue Water], used for the treatment of benign prostatic hyperplasia. The increase comes after this product was sold by Veru Inc. to Blue Water Vaccines in April 2023. One other brand had a price increase of over 30 percent: Isturisa (5mg) [Recordati Rare Diseases] increased its price by 62.43%.

Thus far, 96 brands have increased their prices more than once this year. Emflaza [PTC Therapeutics], the only FDA Approved Product that treats Duchenne Muscular Dystrophy increased prices twice for a total of 30.19% since January 1st.

Please note that 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.

Source
AnalySource® as of July 10, 2023 - Reprinted with permission by First Databank, Inc. All rights reserved. © 2023

* Brands are single source products, as determined by the Center for Medicare and Medicaid Services, with increases in WAC Unit Pricing over the time periods of 7/1/2023-7/7/2023 and 1/1/2023-7/7/2023.

** First Databank, Inc Drug Pricing Policy: https://www.fdbhealth.com/drug-pricing-policy


About DMD America, Inc
AnalySource® is a registered trademark and drug pricing data solution service of DMD America, Inc. Since 1996, data has been made available in cooperation with First Databank, Inc., a subsidiary of the Hearst Corporation. Our service is licensed by subscription, with global clients including biotech, pharmaceuticals, government agencies, consultancies, academia, and more.

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.

Daniel Miccio
DMD America, Inc.
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