The IQVIA Institute for Human Data Science today released a new report that reveals important realities about U.S. drug pricing trends.
Too many politicians and journalists remain committed to the false narrative of “skyrocketing” and “soaring” drug prices.
By contrast, IQVIA data reveal that list prices for brand-name drugs grew by less than 6% in 2018. What’s more, net prices (after rebates and discounts) increased by only 1.5%. The 2018 figures mark the fourth consecutive year that net drug prices have grown by low-single-digit amounts.
I recognize that relying on “facts” and “data” has become unfashionable. But I simply don’t understand how we can build sound public policies based upon inaccurate perceptions. As the late senator Daniel Patrick Moynihan said: "Everyone is entitled to his own opinion, but not his own facts." I doubt this principle will guide today's congressional hearings.
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