The GoodRx research team has found that 2022 prices for 669 drugs have increased by an average of 5% so far this month. Money Talks News’ recent article entitled “Prepare to Pay More for These Drugs in 2022” reports that as of January 10, they include 658 brand drugs, which increased in price by an average of 4.9% and 11 generic drugs, which increased in price by an average of 10.3%. By comparison, during the whole month of January 2021, 832 medications increased in price, by 4.6%, on average. GoodRx says the greatest price increases in 2022 so far are for the following meds:
- Calcium acetate: 56.9%
- Solu-Cortef: 16.8%
- Tyblume: 15.8%
- Matulane:15%
- Nucynta: 15%
- Nucynta Er: 15%
- Bicillin Cr: 10%
- Bicillin Cr 900/300: 10%
- Bicillin L-A: 10%
- Depo-Estradiol: 10%
- Fragmin: 10%
- Neoprofen: 10%
- Paclitaxel : 10%
- Camptosar: 10%
The complete list of the drugs that have seen price hikes so far this month is also on GoodRx’s site. If you’re thinking that you haven’t heard of most of the medications, GoodRx says that drugs that increase in price generally are specialty drugs that aren’t commonly prescribed. Still, it’s wise to check your prescription drug company’s formulary against your current medication list annually to avoid big surprises.
GoodRx notes that it monitors list prices—these are the prices that manufacturers set for their drugs. However, the list prices generally differ from the prices that consumers end up paying for their prescriptions. Nonetheless, these list prices still serve as a barometer of sorts.
As GoodRx says, “Few patients actually pay this price because they are typically shielded by their health insurance. But the list price is still a good proxy for the price of a drug. In essence, rising list prices lead to rising out-of-pocket costs for patients.”
Price increases for generic and specialty drugs are caused primarily by new product entry — meaning the price hikes can be attributed primarily to new medications coming on the market. However, price increases for brand-name drugs are driven primarily by the impact of inflation on the prices of existing drugs.
Reference: Money Talks News (Jan. 10, 2022) “Prepare to Pay More for These Drugs in 2022”
