ICER and West Health urge fairer drug prices and faster coverage

ICER and West Health say the inflation-adjusted median net launch price of new U.S. drugs rose 35%—from $190,000 in 2022 to $257,000 in 2025. Net price reflects the amount paid after rebates and discounts.

Prices eased 2% from 2024 to 2025 but remained historically high. Nearly one-quarter of drugs launched in 2025 had annual net prices above $500,000; another 34% cost between $200,000 and $500,000.

Access remains a major obstacle:
only about one-third of outpatient prescriptions for the drugs studied were filled within 30 days, and nearly 4 in 10 prescriptions were rejected because of non-coverage. The report says Medicare patients faced especially steep barriers.

ICER and West Health urge drugmakers to price medicines in line with their clinical value and insurers to prepare coverage policies more quickly after FDA approval, with low or no patient cost-sharing.