Branded Medications Jump 5.7%; Specialty Drugs Rise 2.5%; Generics Up 1.4%
NEW YORK, April 28, 2015 – Truveris, a leading platform for prescription drug pricing and benefits analysis, continues to spotlight prescription drug cost increases with 2015 data from the Truveris National Drug Index (NDI), which shows branded, specialty and generic drugs rose a combined 3.8% in the first quarter.
Analyzed by category, branded drug prices jumped 5.7%, specialty drugs rose 2.5% and generic drugs increased 1.4% between January and March 2015. The increases follow those reported for calendar year 2014, in which branded, specialty and generic medications increased 14.8%, 9.7% and 4.9%, respectively, and 10.9% combined overall.
The index also points to infertility (12.2%), menopause (8.8%) and hormone deficiency (8.5%) as conditions that saw the highest drug price increases, taking into account composite calculations of brand, specialty and generic medications. Generic drugs for menopause notably spiked 11.1%, increasing at a higher rate than the composite calculation.
“Prescription drug prices continue to rise at a rate that makes it increasingly difficult for businesses to keep the costs of employee benefits in check,” said Bryan Birch, Chairman, President and CEO of Truveris. “This necessitates that benefit plan managers act now to reevaluate benefit plan designs for 2016, or contemplate stop-loss insurance to cover this mounting liability. By taking these precautions, plans can confirm they have all options at their disposal to best meet their bottom line objectives and the needs of their employees.”
The Truveris National Drug Index (NDI) is the only prescription drug price index in the U.S. measuring the average price of prescription drugs, driven by the most commonly utilized prescriptions. Calculated monthly, it provides a holistic, accurate measurement of the prices paid by private insurers, self-insured organizations, government, unions and uninsured patients.
The current index shows:
Truveris NDI Composite
- Between January and March 2015, the NDI composite index increased 22.52 points or 3.8%.
- For the month of March, the Truveris NDI rose 1.78 points or 0.29%.
Truveris NDI Brand
- Between January and March 2015, the brand index increased 17.39 points or 5.7%.
- For the month of March, the Truveris NDI Brand rose 1.00 points or 0.31%.
Truveris NDI Generic
- Between January and March 2015, the generic index increased 2.1 points or 1.4%.
- For the month of March, the Truveris NDI Generic rose 0.21 points or 0.14%.
Truveris NDI Specialty
- Between January and March 2015, the specialty index increased 3.49 points or 2.5%.
- For the month of March, the Truveris NDI Specialty rose 0.58 points or 0.41%.
Truveris is the leading prescription drug analytics company, on a mission to democratize data and access through technology. Our proprietary Software-as-a-Service platforms drive transparency and lower costs across the pharmacy benefit ecosystem: solutions including RxChoice®, TruBid® and RxDashSM enable clients to select a pharmacy benefit vendor and anticipate financial trends and projected annual spend with unprecedented accuracy and efficiency. Truveris is backed by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital. For more information, check out rxchoice.com, or contact us at firstname.lastname@example.org.