During 2020, drug makers raised prices on seven widely used medicines by substantial amounts without any new clinical evidence to justify the increases, leading patients and health insurers in the U.S. to spend an additional $1.67 billion last year, according to a new analysis.
Much of the added spending was attributed to just one drug – AbbVie’s (ABBV) Humira treatment for rheumatoid arthritis and other ailments. The price rose by 9.6%, after rebates and discounts, which led to an extra $1.4 billion in spending had the price not been raised, according to the analysis by the Institute for Clinical and Economic Review, a nonprofit that mostly assesses the cost effectiveness of new medicines.
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