Erectile dysfunction medications decreased in price at the end of 2019, but are expected to rise once again in 2020.
The prices of prescription lifestyle medications are expected to rise in 2020. Prescription lifestyle medications include medications for erectile dysfunction (ED). Examples of these medications include Viagra and generic sildenafil, Levitra and generic vardenafil, and Cialis and generic tadalafil.
Many are wondering why companies anticipate a rise in price to ED medications when prices began to drop at the end of 2019. In addition to this, consumers have placed a tremendous amount of pressure on politicians to decrease drug prices across the board. Read ahead for more information about the 2020 ED price hikes.
Behind the Increases
Drug manufacturers kicked off January 2020 with price increases to hundreds of branded and generic drugs. According to a recent report, the prices of 619 drugs increased by an average of 5.9 percent between December 31, 2019 and January 24, 2020. The difference between generic and brand-name increases is staggering, with branded drugs accounting for 604 of the total 619 increases.
GoodRx released pricing trend details to the public and continue to monitor the increases for a list of branded and generic drugs. The online pharmacy eDrugstore.com has also released information regarding pricing trends to medications in the United States, specifically prescription lifestyle medications, such as Viagra and Cialis. As of January 2020, the only major prescription ED medication to have experienced a price increase was Viagra.
Pharmacy benefit manager (PBM) executives and drug-makers continue to shift blame for the high costs of drug prices in the United States. In recent testimony before the Senate Finance Committee, executives of leading PBM companies claimed that drug-makers use “anti-competitive tactics” to prevent the release of generic medications to the market.
The Committee countered that PMBs may force drug-makers to increase drug prices, due to their negotiations of drug rebates offered on high-cost drugs. Independent pharmacists support the Committee’s response, arguing that individual pharmacies and consumers are most impacted by rising drug costs, resulting from mandates created by PBMs.
For the time being, prices of the most popular branded and generic ED medications remain stable. However, as overall drug prices continue to rise in the U.S., the prices of prescription lifestyle medications are still at risk for price hikes.
Responses to the Price Hikes
Consumers across the nation have raised concerns about the overall cost of healthcare and prescription medication for the past decade. Astronomical healthcare costs have placed a tremendous amount of pressure on politicians to deliver results in the form of reduced drug costs and insurance-related solutions. Consumers, politicians, and insurers continue to dispute the best method of addressing the price hikes.
December 2019 saw a major step toward the reduction of drug costs for vulnerable Americans. The House passed H.R.3, the Elijah Cummings Lower Drug Costs Now Act, which reforms medication pricing and payment systems. This bill would cap out-of-pocket drug expenses for Medicare recipients, allow the federal government to negotiate drug prices with drug-makers, and would reform benefit structure for Medicare Part D.
Also in 2019, individual states, such as Maryland and Massachusetts, established new authority for their state review boards in order to investigate excessively priced prescription drugs and coordinate efforts to reduce prices. It is clear that political pressure from consumers, healthcare professionals, and state authorities will continue in response to the 2020 price hikes.
Saving Money with Generic Medications
Consumers have been turning to generic medications to reduce personal spending on prescription drugs. Lifestyle medications, such as Viagra and Cialis, also have reliable and cost-effective generics available for purchase. Those seeking affordable erectile dysfunction and sexual health medications can visit eDrugstore.com to find the best option for their lifestyle and their wallet.
Shelby is a public health professional with research and field experience in sexual and reproductive health. She holds a Master of Public Health (MPH) and is a Certified Health Education Specialist (CHES).