ICER Criticizes Major Pharmas for Unjustified Drug Price Hikes Amid Sales Growth
The Institute for Clinical and Economic Review (ICER) has flagged five major pharmaceutical companies for enacting unjustified price hikes on key drugs, despite these companies reporting substantial sales growth[1][2]. ICER's report specifically calls out Gilead's Biktarvy, Johnson & Johnson's Darzalex, Novartis' Entresto, Exelixis' Cabometyx, and Pfizer's Xeljanz for lacking sufficient clinical evidence to support their price increases, which added an estimated $815 million to U.S. payers' expenses in 2023[1][2]. Notably, Gilead's Biktarvy was the largest contributor with a 5.9% hike accounting for $359 million in additional spending[2].
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Explore Further
What justifications do the pharmaceutical companies provide for the recent price hikes in the face of ICER's criticism?
How might ICER's methodology be improved to address pharmaceutical companies' claims of oversight in data analysis?
What impact do these price hikes have on patient access to essential medications like Biktarvy and Darzalex?
Are there any proposed regulatory changes or policy interventions being considered to manage unjustified drug price increases?
How does the ongoing debate between ICER and pharmaceutical companies affect the innovation landscape in the pharmaceutical industry?