2024-08-04 03:05:00
According to the monthly survey, drug prices rose 6.53% to $648,742 in the seventh month of the year sound A total of 60 medicines. This reversed two consecutive months of slowdown, with growth doubling to 3.25% in June.
A year-on-year increase of 291%, the basket value since July 2023 is US$165,666; since the beginning of the year, a cumulative increase of 60% in 2024 is US$404,193.
According to prices surveyed by the outlet last month, drug increases outpaced monthly inflation, which according to major private consulting firms was closer to 4% rather than 3%. All countries have CPI (Consumer Price Index) between 3.5% and 4.1%.
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This percentage increase is also much higher than the survey results sound Made from supermarket baskets, it was 2.55% in July. The basket grew 321% year over year.
In over-the-counter drugs, the increase was smaller, but still higher than the CPI and supermarket basket. In July, the monthly increase of this type of drugs was 4.51%, and the cumulative increase for the whole year was 75%. Compared with the same month last year, the cumulative increase reached 328.69%.
Drug Price Survey. Photo: Ramiro Pereyra/La Voz
What happened in various regions
investigating sound It allows us to identify differences based on the effects of a drug on the body. Although the composite average rate in July was 6.53%, there were still projects higher than this value.
For example, treatments for respiratory conditions, which are crucial this time of year, increase by 17.31%. These drugs were among the top increases this month. This huge growth is mainly attributed to the sharp increase in Salbutral, which increased by 84.25%, from US$9,590 to US$17,670. This bronchodilator from Cassará Laboratories is an aerosol containing 250 doses.
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Other products such as Aerotina and Acemuk grew by 5%, while Qura Plus grew by 6% month-on-month. Vick Vaporub reflects the opposite, it has not suffered any changes.
Meanwhile, drugs related to treating hormonal and metabolic diseases, including diabetes, thyroid and cholesterol, increased by an average of 8.38%.
These are some of the best-selling drugs in the country, according to a survey conducted by the Argentine Pharmaceutical Federation (Cofa). Among them, the drug Amplify from Cassco Laboratories stood out with an increase of 23.98%. Its cost increased from $26,652.75 to $33,043.66. The remaining drugs in this category, such as levothyroxine and Xinlip, increased by 5.26% each month.
In the case of drugs to treat cardiovascular diseases such as high blood pressure, the average increase was 4.27%. In this category, the average over-the-counter price for full monthly coverage for Atenolol Gador, Lotrial, Corbis, Losacor, and others is $16,873.55.
Drug Price Survey. Photo: Ramiro Pereyra/La Voz
For immune system drugs, including allergy treatments and vaccines, the average increase was 5.76%. These medications are indispensable for many patients during the months when flu symptoms and allergy symptoms are heightened.
The average increase in anti-inflammatory drugs was 4.26%. Genomma Laboratories’ Tafirol increased by 10.25%. At the same time, Pfizer Laboratories’ Bupilak 600 soft capsules increased even more, reaching 13.30%.
The field of psychotropic drugs grew by an average of 4.37%, while the “other” category of products covering a wide range of treatments grew by an average of 3.45%.
Of the 60 products surveyed, formula continued the drug trend, reaching an average of 5%.
Other investigations
Drug prices are also closely monitored by the College of Pharmacists of Córdoba, which uses digital tools to track a total of 18,629 products sold over the counter. The agency’s observatory detected a monthly increase of 5.4%, bringing the cumulative increase so far this year to 46.6%. This increase for the college is 304% year over year.
Dialogue with Guido Bambini, economic analyst at Cepa (Argentine Center for Political Economy) sound“We saw a 5% increase in sales prices to the public and a 7.5% increase in the price of the PAMI drug basket,” said the company.
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“The average of the 10 companies with the largest gains was 9.2%, with the top gainer at 13% and some other companies at 10%,” the analyst commented, which is consistent with his own price survey report.
These increases had an impact on direct sales in July. The Cordoba Business Federation (Fedecom) made this clear in its monthly survey, showing a 3.2% decline in unit sales in the pharmaceutical industry.
Unregulated
Since President Javier Milley took office, the logic of drug prices has been determined by supply and demand.
Ahead of last August’s primaries, former President Alberto Fernandez tried to regulate the value of these essential goods by striking deals with the pharmaceutical industry or freezing prices.
On July 19, 2022, the pharmaceutical industry and the national government signed the first price supervision agreement. In September of that year, the agreement was extended and expired on March 31, 2023.
At that time, the value of these products soared until the new deal arrived. However, these measures are not enough to stop the growth. Each time the agreement expires, the value of the remedy increases, putting the patient’s continuity of essential medical care at risk.
The biggest jump occurred in December, with both inflation and sharp depreciation. That month, drug prices rose 44.9%, higher than the overall inflation rate. The Consumer Price Index (CPI) calculated by Indec (the National Institute of Statistics and Census) showed an overall increase of 25.5% for all products surveyed.
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