What We’re Reading: Drug Price Increases; FDA Approvals Rise; Abortion Pill Demand Surge

Hundreds of Drug Prices Expected to Rise This Month

Drugmakers are expected to increase more than 500 drug prices early this month, according to Axios. This prediction comes from Reuters’ recent report on an analysis from health care research firm 3 Axis Advisors, which found that more than 140 drug brands will have their prices raised. Drugmakers are more likely to raise or lower drug prices around the beginning of a new year, with recent price increases averaging around 5% to 6%. This practice may receive more scrutiny as the Biden administration conducts the first-ever Medicare drug price negotiations and cracks down on companies hiking drug prices faster than inflation.

FDA Approvals Increase in 2023

The FDA approved nearly 50% more novel drugs in 2023 than in 2022, according to Reuters. Compared to 37 approved last year, the FDA approved 55 innovative therapies in 2023 containing an active ingredient or molecule not previously approved; this is greater than the average as the FDA historically approves about 45 to 50 new drugs a year. This increase puts it back on pace with historic levels as analysts and investors said the improvement could lead to increased investment in biotech firms. Notable FDA approvals included Biogen’s Alzheimer’s treatment Leqembi and Eli Lilly’s obesity drug Zepbound.

Leaked Roe v Wade Opinion Resulted in a Nearly Tenfold Increase in Abortion Pill Demand, Study Shows

A research letter published in JAMA Internal Medicine on Tuesday reported that the number of Americans who were not pregnant and wanted abortion pills increased by nearly 10 times after the Supreme Court’s 2022 Roe v Wade decision leaked, according to USA Today. Based on data provided by Aid Access, a telemedicine provider, more than 48,000 abortion pill requests were made between September 2021 and April 2023. Aid Access saw a spike in requests in May 2022 after reports emerged that the Supreme Court would overturn Roe v Wade as their daily request numbers rose from about 25 to nearly 250 per day. The researchers noted that those requesting abortion medication in advance were mostly White women aged 30 years or older with no children living in urban areas or regions with less poverty.