The prices of biologics have consistently increased over the rate-of-inflation for the past forty years.
The high and ever-increasing cost of healthcare in the U.S. has been a long-standing challenge. But the topic of pricing, especially drugs, has now reached the pinnacle of American politics. Particularly troublesome are the prices of biologics.
Truth be told, some of the political scrutiny is pandering – Pharma makes for a low-hanging fruit. Politicians would do well to focus on doctors’ offices and hospitals as well. Yet, there is no doubt that biotech deserve the eyes now fixed upon them.
A forty-year perspective published by @NatureBiotech (data via @IBMWatson) shows how the top-25 selling biotech drugs have reshaped global sales. These twenty-five drugs have increased in price regardless of years on the market or indication. Nearly across the board, drugmakers have consistently raised list prices faster than the rate of inflation. Autoimmune and neurodegenerative disease drugs have led the pack, followed by oncology.
A decade ago, the top-10 selling drugs (globally) generated a combined $56.2Bn in sales, with only one biologic on the list. In 2015, the top-10 drugs combined sold $86.1Bn, of which $67.2Bn came from seven biologic products.
Taking a quick glance at biologic pricing, it’s no wonder American consumers are shouting | @heatinformatics