ICER Report Highlights $815 Million in Unjustified Drug Price Increases in 2023

Unsupported Price Increases:
The Institute for Clinical and Economic Review (ICER) identified $815 million in additional costs due to price increases in 2023 for five high-expenditure drugs that lacked new clinical evidence to justify these hikes14.

Affected Drugs:
The five drugs with unsupported price increases are Biktarvy, Darzalex, Entresto, Cabometyx, and Xeljanz1.

Methodology:
ICER selected drugs based on criteria including being among the top 250 drugs by 2023 US sales revenue, having Wholesale Acquisition Cost (WAC) list price increases exceeding the consumer price index plus 2%, and having net price increases that significantly contributed to US spending1.

Impact:
These price increases result in significant additional costs to the US healthcare system, affecting patients and their families1.

Trend:
ICER has observed a decrease in the number of drugs with significant price hikes without new clinical evidence since launching this report in 20191.

Previous Reports:
ICER's previous reports have consistently highlighted substantial unsupported price increases, with the 2022 report identifying eight drugs with $1.27 billion in additional costs3.

Sources:

1. https://icer.org/news-insights/press-releases/icer-announces-most-significant-drug-price-hikes-unsupported-by-new-clinical-evidence-in-us/

3. https://icer.org/news-insights/press-releases/icer-identifies-most-significant-2022-us-drug-price-hikes-unsupported-by-new-clinical-evidence/

4. https://c.firstwordpharma.com/firstwordgroup/assets/images/drugcostsbenfranklincapsules.jpg?sa=X&ved=2ahUKEwiSvfy68amKAxVqF1kFHe9ZIYYQB16BAgHEAI