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2008 Chartbook of International Pharmaceutical Prices
Decision Resources, Inc., June 2008, Pages: 66
In an increasingly globalized pharmaceutical market, drug pricing and reimbursement policies differ markedly among countries. Payers jealously guard their authority to set prices, and both they and government authorities exert growing pressure on manufacturers to cut prices. To best determine pricing, pharmaceutical companies therefore need to be aware of international price differentials; this report provides comparisons of exmanufacturer drug prices among the countries under study and by select therapeutic area.
Get the Answers You Need to Shape Your Strategy
- European prices for the 160 drugs covered in this report vary, with German and U.K. prices on average closer to U.S. prices; in Germany, several agents are more expensive in that country than in the United States. What market conditions in these two European countries drive the price variations compared with the United States? What therapeutic areas warrant higher or lower pricing, and why? How do prices in these two countries compare with the other European counties under study?
- Since 2006, there has been a sharp decline in Japanese prices for biologics (relative to U.S. prices), while European prices for biologics have experienced a slight increase. Why have biologics experienced different pricing trends in these two regions? How do biologics prices in the individual European markets stack up against U.S. prices?
- As in previous years, average wholesale prices in the United States again increased; conversely, the annual inflation rate for drug costs was at its lowest point in 30 years, one-quarter of what it was two years ago. What changes in the U.S. market have contributed to this competing push-pull in pricing trends?
- A new wrinkle to government-imposed Japanese price controls now cuts the prices of entire drug classes in response to increased sales of a drug in that class. What other government or market factors affect drug pricing in Japan? What is the Japanese government’s rationale for such stringent price control policies?
Scope
- Overall price differentials among markets: ex-manufacturer prices of 160 best-selling drugs in six major markets (France, Germany, Italy, Spain, United Kingdom, Japan) relative to U.S. prices.
- Pricing hierarchy in individual markets: U.S. price of each of the 160 drugs under review as a percentage of average prices in the six other markets under review; pricing hierarchy in individual European markets, Japan, and the five European markets overall as a percentage of U.S. prices.
- Price variations by therapeutic area: coverage of 160 of the world’s best-selling prescription drugs in 2007, including 20 products in each of 7 therapeutic areas (cardiovascular disease, metabolic disorders, immune/infl ammatory disorders, infectious disease, neurology, psychiatry, and oncology), 10 treatments for side effects of chemotherapy, and 10 gastrointestinal drugs.
- Prices of biologics: prices as a percentage of U.S. prices for 21 biologics in the six other markets under study.
- Outlook and implications: continued scrutiny and criticism of prescription drug prices by payers in the United States; ongoing strict government control of drug prices in Europe, achieved by mandatory price freezes, general price cuts, and reference pricing; continued government-imposed biennial price revisions in Japan.
- Pharmaceutical Pricing Chartbook Series: This report is part of a series that examines pricing trends for the world’s best-selling branded drugs and for molecules that have been subject to generics competition in recent years. The reports’ wealth of data and analysis on pricing differentials in seven major markets will be invaluable to companies that need to understand detailed pricing trends in key markets.
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