WASHINGTON, Jan 21, (Agencies): In 2024, pharmaceutical companies have implemented price hikes on numerous medications, as revealed by recent research. 46Brooklyn Research, a nonprofit organization specializing in drug-pricing analytics, unveiled data showcasing price increases on various drugs, including well-known medications like Ozempic and Mounjaro, with some surges reaching 9% or more.

Among the companies implicated in these price adjustments are Novo Nordisk, the manufacturer of Ozempic—a drug designed to assist diabetics in managing blood sugar, which has also proven effective for weight loss—and Eli Lilly, the distributor of Mounjaro, a similar medication. According to the data, the price of Ozempic saw a 3.5% increase, reaching $984.29 for a monthly supply, while Mounjaro experienced a 4.5% uptick, bringing the cost to approximately $960 for a month's worth of the medication.

Additional medications subject to price hikes include the autoimmune disease drug Enbrel (5% increase), the pain reliever Oxycontin (9% increase), the blood thinner Plavix (4.7% increase), and the antidepressant Wellbutrin (9.9% increase), as per the research findings.

It's essential to note that 46Brooklyn's data primarily reflects the prices set by drug manufacturers for distribution to pharmacies, and may not fully represent the final cost borne by consumers. Variables such as insurance coverage and discounts, including rebates, can influence the amount consumers ultimately pay for these medications.

The research also spotlighted around two dozen medications that witnessed a decline in price at the beginning of the year. Notable reductions include the erectile dysfunction drug Cialis (19% decrease), the antidepressant Prozac (18% decrease), and the chronic obstructive pulmonary disease medication Advair, which experienced a price reduction ranging from 22% to 60%, depending on the formulation.