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Drug Prices Jump 3.8% in Q1

Scripta

April 28, 2015 – According to the Truveris National Drug Index, prices for branded, specialty, and generic drugs rose a combined 3.8% in the first quarter of 2015.


Analyzed by category, branded drug prices jumped 5.7%, specialty drugs rose 2.5% and generic drugs increased 1.4% between January and March 2015. The increases follow those reported for calendar year 2014, in which branded, specialty and generic medications increased 14.8%, 9.7% and 4.9%, respectively, and 10.9% combined overall.


The index also points to infertility (12.2%), menopause (8.8%) and hormone deficiency (8.5%) as conditions that saw the highest drug price increases, taking into account composite calculations of brand, specialty and generic medications. Generic drugs for menopause notably spiked 11.1%, increasing at a higher rate than the composite calculation.


“Prescription drug prices continue to rise at a rate that makes it increasingly difficult for businesses to keep the costs of employee benefits in check,” said Bryan Birch, Chairman, President and CEO of Truveris. “This necessitates that benefit plan managers act now to reevaluate benefit plan designs for 2016, or contemplate stop-loss insurance to cover this mounting liability.


The Truveris National Drug Index (NDI) is the only prescription drug price index in the U.S. measuring the average price of prescription drugs, driven by the most commonly utilized prescriptions. Calculated monthly, it provides a holistic, accurate measurement of the prices paid by private insurers, self-insured organizations, government, unions and uninsured patients.

 

See the original press release here:

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Scripta™ is neither a pharmacy nor a doctor. The benefit service does not tell you what drug to take and does not participate in the drug selection process. Only your physician can determine the medications that are right for you. These alternative medications are options for less costly drugs that physicians may prescribe in place of the medications you are taking now. Scripta has reviewed your current medications only for the purpose of identifying potential cost savings for you to consider with your physician. Scripta has not analyzed the effectiveness or other therapeutic aspects of these medication alternatives. Accordingly, this report and any other forms of communication received from Scripta are not, nor should they be interpreted as, any form of treatment, drug regimen review, or provision of counseling or consultation by a prescriber, pharmacist or pharmacy. Do not stop taking your medication, change your medication, or start taking a new medication without being directed to do so by your physician and filling the prescription under the oversight of a licensed pharmacist. The alternatives set forth above may not be equivalent to your current medication, may interact adversely with your other medications, may not be indicated in light of your other conditions, may cause different or severe side effects, or may be less effective at treating your condition. Medication prices are approximate based on information provided by your pharmacy benefits manager, insurance plans, and/or employer, and may vary from pharmacy to pharmacy. Check with your insurance plan to obtain a full list of pharmacies where your prescriptions can be filled. All information herein is HIPAA protected, treated as highly confidential, and never shared with your employer.

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