European Prices of 170 Best-Selling Drugs Averaged 40 Percent Less Than U.S. Prices in 2008
Pharma and Payers Need to be Aware of Enormous Price Variations by Therapeutic Area and Drug Type from One Country to Another
2009 Chartbook of International Pharmaceutical Prices Now Available from Decision Resources
WALTHAM, Mass., July 7 /PRNewswire/ -- Decision Resources, one of the world's leading research and advisory firms focusing on pharmaceutical and healthcare issues, finds that European prices of 170 best-selling drugs averaged 40 percent less than U.S. prices in 2008. Within Europe prices varied substantially, from an average of 55 percent of U.S. prices in Italy to 70 percent of U.S. prices in Germany. European prices for biologics averaged 86 percent of U.S. prices.
Many of the drugs that have the largest percentage price differentials between the United States and other markets are older drugs such as Eli Lilly's Prozac, Sanofi-Aventis' Ambien and Novartis' Tegretol that have lost patent protection in some markets. Manufacturers of branded medicines in Europe typically cut the prices of these drugs when the products lose patent protection, whereas companies in the United States usually maintain brand prices following patent expiration.
"The current economic downturn will focus increasing attention on the cost of prescription drugs, and many payers will look to compare the prices they pay with prices in other markets. The United States is widely assumed to be by far the most expensive pharmaceutical market, but pharmaceutical companies and payers need to be aware of the enormous price variations by therapeutic area and drug type from one country to another," stated Neil Grubert, M.A., Director of Pricing and Reimbursement Research at Decision Resources.
About 2009 Chartbook of International Pharmaceutical Prices
The new Spectrum report entitled 2009 Chartbook of International Pharmaceutical Prices examines overall price differentials among seven of the world's largest pharmaceutical markets (the United States, France, Germany, Italy, Spain, the United Kingdom and Japan) and reviews pricing hierarchies in each of these markets. The report also analyzes price variations by therapeutic area, considers the prices of biologics, and assesses the outlook and implications for the pharmaceutical industry.
About Decision Resources
Decision Resources (www.DecisionResources.com) is a world leader in market research publications, advisory services and consulting designed to help clients shape strategy, allocate resources and master their chosen markets. Decision Resources is a Decision Resources, Inc. company.
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Gisselle Morales Elizabeth Marshall
Decision Resources Decision Resources, Inc.