A COMPARISON OF TRENDS IN INSULIN PRICES AND THE GROSS DOMESTIC PRODUCT IN THE US (1983 - 2016)
Author(s)
Sultan I1, Amamoo JJ1, Gannu L1, Seoane-Vazquez E2
1MCPHS University, Boston, MA, USA, 2Massachusetts College of Pharmacy and Health Sciences, Boston, MA, USA
OBJECTIVES: Diabetes is one of the most prevalent chronic diseases in the Unites States (US). Newer analogs are generally more expensive than older insulin formulations. The increase in prices of insulin products have resulted in increased third party payer expenditures and out-of-pocket costs. This study assessed the increase in insulin prices and the gross domestic product (GDP) in the US in the period 1983-2016. METHODS: The average wholesale prices (AWP) of insulin were collected from the RedBook (Truven Health). The GDP per capita, a common measure of the economic growth of nation, was derived from The World Bank. Insulin products were classified according to their duration of action: ultra-short acting, short acting, intermediate acting, long acting, and premixed insulin. The annual compound annual rate growth (CARG) for the AWP prices of insulin products were calculated and compared to the CARG of the GDP. RESULTS: Ultra short acting insulin products had an annual CARG price range from 14.1% to 16.5% compared with an annual CARG GDP range of 2.1% to 3.3%. For short acting insulin products, the annual CARG price range was 9.3% to 24.7% compared with an annual CARG GDP range of 2.8% to 3.8%. Intermediate acting insulin products had an annual CARG price range of 8.5% to 23.8% compared to the annual CARG GDP of 3.5% to 15.4%. Long acting insulin products had an annual CARG price range of 17.5% to 18.4% compared to an annual CARG GDP range 2.3% to 3.4%. Premixed insulin products had an annual CARG price range of 0.0% to 15.1% compared to the annual CARG GDP range of 2.9 % to 6.3%. CONCLUSIONS: Insulin prices increased faster than the GPD. The highest price increases were observed in ultra short acting insulin products, while the lowest price increases occurred in long acting insulin products.
Conference/Value in Health Info
2017-05, ISPOR 2017, Boston, MA, USA
Value in Health, Vol. 20, No. 5 (May 2017)
Code
PDB33
Topic
Economic Evaluation
Topic Subcategory
Cost-comparison, Effectiveness, Utility, Benefit Analysis
Disease
Diabetes/Endocrine/Metabolic Disorders