Johnson & Johnson (J&J) published a transparency report on Monday revealing the average list and net price increases for drugs in its portfolio between 2012 and 2016.
The document indicated the average change in list prices started at 7.6 percent in 2012 reaching a high of 9.7 percent in 2015. Net price upticks were lower beginning at 4.3 percent before hitting a high of 5.2 percent in 2015 as well.
J&J sells novel drugs like Xarelto and rheumatoid arthritis treatment Remicade, but the report didn’t highlight specific medications.
“We understand the concerns of patients, families and other stakeholders who are worried about health care costs, including the costs of prescription medications. They are calling on us to provide greater transparency about how we operate — including disclosing more information on our pricing and marketing practices, our patient access programs, and our clinical trial,” J&J’s top executives wrote in a statement.
Releasing this report is part of strategy drug companies are taking to combat criticism of their pricing practices for prescriptions medications.
Merck & Co released a similar report last month divulging their price changes, but their increases were higher and focused on a six year period instead of four.
J&J plans on releasing annual reports containing this information going forward.
You can watch a video that was released along with this report below where J&I executives provide more information regarding their pricing decisions.
Filed Under: Drug Discovery