Over 2,800 Price Changes For the Most Recent Monthly Survey
SYRACUSE, NEW YORK, UNITED STATES, March 2, 2020 /EINPresswire.com/ — The latest monthly National Average Drug Acquisition Cost (NADAC) survey results for generic drugs have been published by the Centers for Medicare and Medicaid Services (CMS). The NADAC pricing benchmark provides state Medicaid agencies with covered outpatient drug prices. These prices are determined by conducting a random voluntary survey from independent and retail chain pharmacies throughout the nation focusing on acquisition costs of outpatient drugs. These prices do not include rebates, discounts or price concessions*. CMS has contracted with Myers & Stauffer, LC, to perform this survey.
With over 2,800 price changes for the most recent monthly survey, it brings in to question as to whether these price fluctuations make predicting drug prices even possible. For example, the opioid pain medication Oxycodone HCL 5 mg capsule sticks out with a staggering 291.6% increase from the previous month with a new NADAC price of $0.9446 each.
Looking closer at the historical NADAC pricing of the oxycodone HCL 5 mg capsule, although the price increase may seem alarming at first, the NADAC price in March of 2019 was $0.74115 having an annual change of only 27.5% through February 2020 (see chart). During the past 36 months, the price was as high as $1.2117, October and November 2018, and as low as $0.24124 from October 2019 through January 2020. The 36-month average NADAC price is $0.81723.
The second-highest monthly price increase is Nadolol 80 MG Tablet, used to treat hypertension and angina, which had a 77.5% price change. Rounding out the top 5 increases are Carisoprodol 250 MG Tablet used to treat short-term muscle pain and discomfort coming in third at 73.2%, Dexmethylphenidate ER 10 MG capsule used in the treatment of Attention Deficit Hyperactivity Disorder (ADHD) climbed 67.1%, and Ranitidine 150 MG Tablet, used for the treatment of stomach ulcers and maintenance therapy after the ulcers have healed, coming in fifth at 63.2%.
Overall, of the over 2,800 price changes for the latest monthly survey results, 312 drugs had price increases of 10% or more and 299 had price decreases more than -10%. The average price increase for all drugs taking a NADAC generic price hike is 7.2%. Given the fluctuations that happen monthly with NADAC pricing for generic drugs, it shows how difficult it is to predict drug prices.
Source
AnalySource® as of Feb 26, 2020 – Reprinted with permission by First Databank, Inc. All rights reserved. © 2020
* Methodology for Calculating NADAC – https://www.medicaid.gov/medicaid-chip-program-information/by-topics/prescription-drugs/ful-nadac-downloads/nadacmethodology.pdf
About DMD America, Inc
AnalySource® is a registered trademark and drug pricing data solution service of DMD America, Inc. Since 1996, data has been made available in cooperation with First Databank, Inc. a subsidiary of the Hearst Corporation. Our service is licensed by subscription, with global clients including biotech, pharmaceuticals, government agencies, consultancies, academia, and more.
Eric Tedford
DMD America
+1 315-671-4208
email us here
Visit us on social media:
LinkedIn