Drugs are increasingly expensive and the cost of each drug is escalating in different ways, according to the results of a study published on Monday.
Drugs with high costs are being priced at high rates by pharmaceutical companies, while cheaper drugs are being given lower price tags.
In the US, for example, the generic price for a drug costing $50,000 is now $70,000.
The study by the Cochrane Collaboration, a UK-based group of researchers, examined drug prices for all drugs that were available in the US between January 2010 and January 2017.
The study is published in The Lancet medical journal.
The drugs with high prices were given a lower price tag because the companies were able to charge them lower prices because the price of the drug was cheaper.
The drugs with low prices were being given a higher price tag as a result of lower demand.
“Drug prices in the United States have been climbing dramatically over the last decade,” said Dr Matthew Smith, from the Cochran Institute, the Cochrans’ healthcare research arm.
“There are huge barriers to entry, with companies charging much higher prices than other drugmakers.”
Dr Smith said the study highlighted the need for “a better understanding of the barriers that pharmaceutical companies face when they try to introduce new drugs into the market”.
He said the findings showed that although the number of new drugs being approved was increasing, drug costs had been increasing too.
“It is clear that drug companies need to do a better job of targeting the right patients and making the right decisions about what drugs they will be promoting,” he said.
“They need to focus on patient-focused research and on the value of each of these drugs.”
As a result, it’s clear that there are far too many new drugs on the market that don’t deliver the best outcomes for patients.
“Dr Anthony Fauci, from King’s College London, said the Cochraals findings were a reminder that drugs were “more expensive than they should be”.”
We’ve been warning about this for decades, but it is getting worse.
It is not just the costs of these new drugs, but also the prices that are increasing,” he told BBC News.”
I think this is really worrying.
I think we’re heading into a period of really high drug prices and that’s really worrying.
“Dr Faucis said drug companies were working harder to get drugs into patients’ hands, but the costs were also rising.”
In some cases, drug prices are doubling, triple, quadruple, even quadruple over the past few years,” he added.”
We need to get rid of this myth that drug prices should be rising.