With drug price negotiations in the books, Dems turn to launch prices as the next challenge
Rep. Katie Porter (D-CA) is caught in the middle of a tight reelection race, with pollsters calling it a toss-up.
But that didn’t stop her office from releasing a new report yesterday on skyrocketing drug launch prices, particularly in oncology, as she calls for Congress to address with the momentum from the passage of the Inflation Reduction Act.
Her office’s 40-page report finds that the median launch price for new drugs increased by over 8,000% — from $2,115 to $180,087 — between 2008 and 2021. And for cancer drugs, the 2021 average drug launch price was $232,000, with projections that that number could grow to $300,000 per year by 2025.
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