AXIOS January 20, 2022
Although net prices of brand-name drugs have increased significantly over the last decade, the savings produced by generics have actually driven average prescription prices down in Medicare’s pharmacy benefit and Medicaid, according to a new analysis by the Congressional Budget Office.
Why it matters: The analysis reiterates that the generic market is largely working as intended.
By the numbers: The average net price of a prescription fell from $57 in 2009 to $50 in 2018 in Medicare Part D, and from $63 to $48 in Medicaid.
- The drop is largely attributable to the growing use of generics, which jumped from 75% to 90% of all prescriptions nationally during that time frame. The average price for a generic prescription also...
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