New year means new beginning for most people, but for Americans, 2022 means paying more on their prescription medications. As we’ve seen in the past, January is a popular time for big Pharmaceutical Companies to hike their list prices. This increase will affect the most vulnerable of Americans – seniors and those without insurance.
What does list price mean? Medication list prices are the official price of the drug set by the manufacturer. Insured patients don’t typically pay the list price of a medication at the pharmacy. However, these prices are a powerful indicator of drug pricing trends. List prices trickle down to all consumers in the form of higher cash prices, insurance premiums, and copayments.
As these medication prices continue to increase, those with chronic and life-threatening medical condition will find relief through drug importation. CheapoMeds predicts that these price hikes by major pharmaceutical manufacturers will drive millions of Americans to purchase affordable prescription medications from safe online Canadian pharmacies.
This month of January, Good RX reported that 713 drugs have already increased by an average of 5%. Companies like Pfizer, AstraZeneca, Bausch Health, Bristol Myers Squibb, and Teva have some of the biggest percentage price increases.
Here are some medications that increased in price between 5% and up to 73%:
For more information on January drug price hikes, click here: https://www.goodrx.com/healthcare-access/drug-cost-and-savings/january-drug-price-hikes-2022
