FORBES: Drug Prices Keep Rising Amid Political Pressure, But Not As Fast

By Leah Rosenbaum

Prices for the majority of drugs in the U.S. have started to rise more slowly, likely a result of public and political pressure, according to a five-year study released Tuesday by drug pricing startup GoodRx.

Analysts at the company, which tracks drug prices and offers online discounts, found the price for the majority of drugs has increased by 32% in the past five years, with the biggest increases occurring on average between 2015 and 2017. Some medications experienced even sharper increases—drugs that treat anaphylaxis and drugs used in the management of rheumatoid arthritis each increased over 90%. Yet in recent months, the pace of price hikes has cooled as politicians have ramped up pressure by mandating that drug companies list prices in direct-to-consumer advertisements and threats of a cost-cutting White House executive order.

“Even though prices have not stopped going up, the pace has slowed as the political attention has gotten hotter,” says Thomas Goetz, Chief of Research at GoodRx.

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