CMS has released their latest round of drug pricing data – another peek into the functionality of the prescription drug supply chain amid the COVID-19 pandemic. As we highlighted in the June and July NADAC reports, generic drug prices are weathering the pandemic storm. In fact, not only have the predictions of massive increases failed to come to fruition, but instead, generic drug prices are falling. This month continues that trend. Our latest report digs into the numbers using the latest NADAC drug pricing data from CMS.
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CMS has released their latest round of drug pricing data, giving us further insights into how the prescription drug supply chain is responding to the new challenges and demands presented by the COVID-19 pandemic. While many expected the pressures to cause massive shortages and price increases, the data shows that while shortages have definitely jumped, this new CMS drug pricing data shows that not only have generic drug prices stayed in check, but they actually appear to be deflating! But of course, the details matter, and we’ve got them for you.
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CMS has released their latest round of drug pricing data – this one reflecting price changes from arguably the peak of COVID-19 hysteria and supply chain pressure. The release gives us long-anticipated insight into how the drug supply chain is operating as it is pushed up against the wall by unprecedented disruption. Surveys have shown that Americans believe that the pandemic will yield drug price increases from manufacturers, and given the growing number of shortages, who can blame them? Well, the CMS data shows that everyone may be in for a surprise: overall, generic drug prices don’t appear to be budging.
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Ever since the COVID-19 pandemic pulled the rug out from under our lives, us nerds in the drug pricing world have been anxiously anticipating what its impact on the prescription drug supply chain will be. This week, CMS released its latest monthly round of prescription drug cost information, which gives us our first bits of insight of how the virus and its stresses on the supply chain are impacting generic drug costs. While it’s too early to tell, the first indicators show that prices are slightly moving northwards, but in general, it doesn’t seem close to being the disaster that many anticipated.
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For the past few weeks, we have been tracking the number of COVID-19 trials on ClinicalTrials.gov, with specific emphasis on drug trials. As of Tuesday, the week-over-week number of drug trials increased by 101 to a total of 431, and the number of different active ingredients undergoing trials for COVID-19 is now up to 190. When digging into those numbers, we found that the chloroquine/hydroxychloroquine craze appears to have spilled over to the research community, launching 124 trials on these two drugs – a staggering 28% of the total drug trials, as of today.
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For the past 20 months, in the pre-COVID-19 era, we’ve released a monthly report called “What’s Happening To Generic Drug Prices,” where we track month-by-month price changes from the CMS National Average Drug Acquisition Cost (NADAC) survey of community pharmacy invoice acquisition costs for prescription drugs. This month, we still are providing that update, but in digging through the latest round of drug pricing data from CMS, we spotted some very interesting drug pricing movement on generic drugs, and one massive increase on a drug that was recently being tested for emergency use for treatment of COVID-19 patients. Check out our latest drug pricing report for important updates on the latest drug price changes, plus an updated NADAC Packed Bubble Chart and Abnormal Drug Price Increase Tracker.
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COVID-19 has dominated all aspects of American and international life over the past months. As the scope of the disease becomes more apparent by the day, we have begun to monitor the impact that COVID-19 has had on prescription drug prices, and unsurprisingly, there’s been volatility. To facilitate broader investigation into the impact COVID-19, we wanted to share within the public domain the list of national drug codes (NDCs) that included active ingredients currently being investigated in conjunction with COVID-19 according to ClinicalTrials.gov. This new tool will give users the ability to better track prices of drugs that are being evaluated as potential treatments options. Here’s how we did it, and how you can use it.
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