Drug prices rose about 2% in 1996
Last year's drug prices increased at an annual inflation rate of about 2%, according to an industry forecast and government figures.
Last year's drug prices increased at an annual inflation rate of about 2%, according to an industry forecast and government figures.
The findings contradict a report released by the National Association of Chain Drug Stores, Alexandria, VA, which found that drug prices rose 4.1% in 1996.
IMS America, Plymouth Meeting, PA, said overall prices increased at a rate of less than 2%. The finding was based on data gathered from IMS' databases for the first three quarters of 1996.
"Our databases have shown overall increases for the first, second and third quarters of 1.3%, 1.8% and 2%, respectively," said Robert Merold, vice president of marketing. "Based on this information, we believe it is impossible that the overall price increase for 1996 would be anywhere near the 4% previously reported."
In addition, recently released federal government figures show that the Producer Price Index for pharmaceuticals increased 2.1% from December 1995 to December 1996. The Pharmaceutical Research and Manufacturers of America, Washington, called this the lowest annual rate of increase since 1974. In 1995 and 1996, the rate of increase was 3.7% and 3.3%, respectively. PR
Beyond the Prescription: Pharma's Role in Digital Health Conversations
April 1st 2025Join us for an insightful conversation with Jennifer Harakal, Head of Regulatory Affairs at Canopy Life Sciences, as we unpack the evolving intersection of social media and healthcare decisions. Discover how pharmaceutical companies can navigate regulatory challenges while meaningfully engaging with consumers in digital spaces. Jennifer shares expert strategies for responsible marketing, working with influencers, and creating educational content that bridges the gap between patients and healthcare providers. A must-listen for pharma marketers looking to build trust and compliance in today's social media landscape.
