this post was submitted on 21 Jan 2024
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510
Pharmaceutical companies hiked the price of 775 drugs this year so far, including Ozempic and Mounjaro — exceeding the rate of inflation (arstechnica.com)
submitted 9 months ago by [email protected] to c/[email protected]
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Pharmaceutical companies hiked the price of 775 drugs this year so far, including Ozempic and Mounjaro — exceeding the rate of inflation::Meanwhile, Senate to consider subpoenas to force pharma CEOs testify on prices.

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[–] [email protected] 1 points 9 months ago

I read through this article and the articles it linked to and wasn’t able to find a list of price increases, or even just the worst ones. The 4.5% increase is the most I saw and that’s barely more than inflation. The Reuters article they cited said that price increases during the pandemic were below inflation, so this kinda averages it out.

The Reuters article had this tidbit:

Truist analyst Robyn Karnauskas said in a note that Eli Lilly (LLY.N), opens new tab planned to lower the prices of its Humalog and Humulin insulins by 75.8% and 70% respectively on Dec. 30, and to raise the price of its popular diabetes drug Mounjaro by 4.5% on Jan. 1. These changes were not included in 3 Axis' data.

I’ll take a 4.5% price increase alongside a 70-75% price cut any day of the week. And I say that partly because much (most?) of the demand for Mounjaro is because it can be used off-label for weight loss and not for it as a drug to treat diabetes. I’m not saying weight loss drugs should be unaffordable, but it does seem reasonable to treat off-label weight loss drugs as a luxury.