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The coronavirus pandemic hasn't stopped drug price increases

Caitlin Owens, author of Vitals

Illustration: Sarah Grillo/Axios

Pharmaceutical companies raised the price of 245 drugs between January 20 and June 20, according to a new analysis by Patients for Affordable Drugs.

Between the lines: Some of these drugs are directly related to the pandemic. And the hikes occurred against the backdrop of economic calamity hitting many American families.

  • The average price increase was 23.8%.

By the numbers: 61 of the drugs with price hikes were being used to treat the coronavirus, while another 30 were undergoing clinical trials for use against it.

  • Some of the drugs — like those used to sedate ventilated patients — saw both a surge in demand and an increase in price.
  • "Although some price hikes may be attributable to interruptions in global manufacturing supply chains, others can be attributed to opportunistic hikes in the face of steep increases in demand," the authors write.

Another 118 drugs that saw price increases are used to manage chronic conditions.

  • These patients are generally more vulnerable to severe coronavirus infections, and thus may be facing harder decisions about returning to work.

Go deeper: Brand-name prescription drug prices have spiked since 2007

Go deeper

Sara Fischer, Courtenay Brown
Oct 17, 2020 - Economy & Business

The industries that won’t recover without a vaccine

Illustration: Annelise Capossela/Axios

Industries that were once expected to recover after the initial coronavirus lockdowns lifted are now unlikely to bounce back until a vaccine arrives.

Why it matters: In the absence of a widely-adopted vaccine, businesses in the entertainment, travel, restaurant and other industries are struggling to overcome consumer skepticism around indoor activities — even with new safety protocols in place.

Go deeper (2 min. read)Arrow
Axios
Updated 15 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: CDC director defends agency's response to coronavirus pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Azar says deadly Capitol siege could "tarnish" Trump administration's legacy — Biden says, "We will manage the hell out of" vaccine distribution.
  3. Vaccine: Battling Black mistrust of the vaccines — "Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode again — Fed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Go deeper (1 min. read)Arrow
Rebecca Falconer
Updated Nov 10, 2020 - World

In photos: Coronavirus restrictions grow across Europe

A waiter stands on an empty street in downtown Lisbon on Nov. 9, after Portugal introduced a night-time curfew for 70% of the population, including the capital and also the coastal city of Porto. It'll last for at least two weeks, per the BBC. Photo: Patricia De Melo Moreira/AFP via Getty Images

Portugal and Hungary have become the latest European countries to impose partial lockdowns, with curfews going into effect overnight. Governments across the continent are imposing more restrictions in attempts to curb COVID-19 spikes.

The big picture: Over 9.2 million cases have been reported to the European Centre for Disease Control. Per the ECDC, France has the most (almost 1.8 million) followed by Spain (over 1.3 million) and the United Kingdom (nearly 1.2 million). The COVID death rate per 100,000 of the population is highest in the Czech Republic (25), followed by Belgium (19) and Hungary (10.4).

See photos (<1 min. read)Arrow