Drug makers have received many attacks about the dramatic increase in drug prices over the past few years. Most recently under public scrutiny was Mylan Inc. with the price spike in their well known allergy treatment, EpiPen. Companies are now attempting to add transparency to the system to rid consumer speculation.
Recently, Johnson & Johnson announced that they will release a report next month that outlines the change in prices for each of their prescription drugs.
In an article released on The Wall Street Journal, Jonathan Rockoff writes:
“The report will give the average increase in the list prices for all company drugs in the U.S., as well as their average price after the discounts given by the company, J&J officials said. The report will also show that J&J spends more on research than marketing, and about two-thirds of its sales growth comes from selling more drugs, rather than raising their prices.”
Although this report will provide some limitations, the added transparency is a step in the right direction for the pharmaceutical industry. Hopefully other companies will follow suit and help to shed light on the complex landscape for the general public.
For more information on this report, read the article, Johnson & Johnson to Report Average Increases in List Prices for U.S. Drugs, from The Wall Street Journal.