Drug Price Hikes Unsupported By Evidence Cost US $815 Million: ICER Report

Benzinga12-14

The Institute for Clinical and Economic Review (ICER) has identified five prescription drugs whose price increases in 2023 lacked sufficient clinical evidence to justify the hikes. Gilead Sciences Inc...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDrug Price Hikes Unsupported By Evidence Cost US $815 Million: ICER Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-14 01:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/drug-price-hikes-unsupported-evidence-171507207.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Institute for Clinical and Economic Review (ICER) has identified five prescription drugs whose price increases in 2023 lacked sufficient clinical evidence to justify the hikes.\nGilead Sciences Inc...</p>\n\n<a href=\"https://finance.yahoo.com/news/drug-price-hikes-unsupported-evidence-171507207.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1267930813.SGD","symbol_name":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/drug-price-hikes-unsupported-evidence-171507207.html","article_id":"2491305906","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/3d.JffZEc6KRh15FVfFjHw--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/a1f6fcbf33264a5c95130e307843f218"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491305906","pubTimestamp":1734110107,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The Institute for Clinical and Economic Review  has identified five prescription drugs whose price increases in 2023 lacked sufficient clinical evidence to justify the hikes.Gilead Sciences Inc's  Biktarvy, Johnson & Johnson's  Darzalex, Novartis AG's  Entresto, Exelixis Inc  Cabometyx, and Pfizer Inc's  Xeljanz are among the five drugs flagged for unsupported price increases.These five drugs' unsupported net price increases produced $815 million in incremental added costs to U.S. payers in 2023. These price increases contributed significantly to the overall spending surge.ICER's analysis revealed that the other five drugs on the list did demonstrate new clinical evidence to justify their increased costs.The findings are part of ICER's latest Unsupported Price Increases  report, which examines the top 10 drugs with significant net price increases in the past year.ICER's Vice President of Research, Dr. Foluso Agboola, highlighted the impact of these price hikes, noting they exceed infla","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","USJW.SI":"ALPHAB 3xLongSG261006","SG9999002224.SGD":"Allianz Global High Payout SGD","EXEL":"伊克力西斯","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","BK4139":"生物科技","QID":"纳指两倍做空ETF","PFE":"辉瑞","AMGN":"安进","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","MRK":"默沙东","LU1032466523.USD":"高盛全球多资产收益组合Acc","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","LU0122379950.USD":"贝莱德世界健康科学A2","BMY":"施贵宝","AZN":"阿斯利康","NVIW.SI":"NVDA 3xLongSG261006","BK4568":"美国抗疫概念","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","JNJ":"强生","LU0114720955.EUR":"SUSTAINABLE GLOBAL HEALTH CARE \"A\" INC","SQQQ":"纳指三倍做空ETF","SG9999013999.USD":"UOB UNITED GLOBAL HEALTHCARE FUND (USDHDG) INC","GILD":"吉利德科学","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","BK4581":"高盛持仓","TSYW.SI":"TESLA 3xLongSG261006","USAW.SI":"AMZN 3xLongSG261006","LU0238689110.USD":"贝莱德环球动力股票基金","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0289739699.SGD":"AB INTERNATIONAL HEALTH CARE PORTFOLIO \"A\" (SGD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","NVS":"诺华",".IXIC":"NASDAQ Composite","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","TQQQ":"纳指三倍做多ETF"},"translate_title":"ICER报告：无证据支持的药品价格上涨造成8.15亿美元损失","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMGN":1,"MRK":1,"NVS":1,"PFE":1,"JNJ":1,"EXEL":1,"BMY":1,"AZN":1,"GILD":0.9,".IXIC":0.9,"USJW.SI":0.6,"NVIW.SI":0.6,"PSQ":0.6,"QID":0.6,"USAW.SI":0.6,"QLD":0.6,"SQQQ":0.6,"TQQQ":0.6,"TSYW.SI":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"The Institute for Clinical and Economic Review (ICER) has identified five prescription drugs whose price increases in 2023 lacked sufficient clinical evidence to justify the hikes.\nGilead Sciences Inc's (NASDAQ:GILD) Biktarvy, Johnson & Johnson's (NYSE:JNJ) Darzalex, Novartis AG's (NYSE:NVS) Entresto, Exelixis Inc (NASDAQ:EXEL) Cabometyx, and Pfizer Inc's (NYSE:PFE) Xeljanz are among the five drugs flagged for unsupported price increases.\nThese five drugs' unsupported net price increases produced $815 million in incremental added costs to U.S. payers in 2023. These price increases contributed significantly to the overall spending surge.\nICER's analysis revealed that the other five drugs on the list did demonstrate new clinical evidence to justify their increased costs.\nMerck & Co Inc's (NYSE:MRK) Keytruda, AstraZeneca Plc's (NASDAQ:AZN) Imfinizi and Tagrisso, Bristol Myers Squibb & Co's (NYSE:BMY) Opdivo, and Amgen Inc's (NASDAQ:AMGN) Prolia\nThe findings are part of ICER's latest Unsupported Price Increases (UPI) report, which examines the top 10 drugs with significant net price increases in the past year.\nICER's Vice President of Research, Dr. Foluso Agboola, highlighted the impact of these price hikes, noting they exceed inflation rates and strain the healthcare system.\nThe ICER report highlighted that Gilead's Biktarvy saw its wholesale acquisition cost increase by 5.9%, with its hike costing U.S. payers $359 million in additional drug spending.\nAccording to the ICER report, the Darzalex price before discounts increased by 7.6%, compared to 6.2% for Entresto, 7.5% for Cabometyx, and 6% for Xeljanz.\nThose price increases added an additional $190 million, $108 million, $86 million, and $72 million to 2023 U.S. drug spending, respectively.\nMethodology Behind ICER's Findings\n\nICER's evaluation followed a detailed protocol introduced in April 2024. The organization assessed drugs meeting criteria such as ranking among the top 250 by U.S. sales revenue and exceeding consumer price index growth plus 2% in their Wholesale Acquisition Cost.\nThe analysis focused on distinguishing price increases driven by value from those unrelated to new clinical evidence.\nManufacturers provided input, and ICER reviewed published studies for evidence of additional health benefits.\n\nRead Next:\n\nWarner Bros. Discovery Stock Spikes As Board OKs Restructuring Plan\n\nPhoto by MargJohnsonVA via Shutterstock\nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nPFIZER (PFE): Free Stock Analysis Report\nJOHNSON & JOHNSON (JNJ): Free Stock Analysis Report\nMERCK & CO (MRK): Free Stock Analysis Report\nBRISTOL-MYERS SQUIBB (BMY): Free Stock Analysis Report\nAMGEN (AMGN): Free Stock Analysis Report\nNOVARTIS (NVS): Free Stock Analysis Report\nASTRAZENECA (AZN): Free Stock Analysis Report\nGILEAD SCIENCES (GILD): Free Stock Analysis Report\nEXELIXIS (EXEL): Free Stock Analysis Report\n\nThis article Drug Price Hikes Unsupported By Evidence Cost US $815 Million: ICER Report originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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