340B HEALTH STATEMENT ON 340B DRUG PURCHASE DATA FOR 2023
WASHINGTON, D.C.— The Health Resources & Services Administration (HRSA) recently released a report on how much drug companies pocketed last year for outpatient drugs they sold through the 340B drug pricing program.
The following can be attributed to Maureen Testoni, president and CEO of 340B Health:
“The new HRSA purchasing figures demonstrate the tremendous financial impact of high-priced specialty drugs on growth in overall prescription spending and in 340B. Although specialty medications account for only 36% of all 340B units purchased, HRSA notes that they represent 60% of reported 340B purchases. The rise in 340B purchases is fueled by broader health care trends, including the increased use of expensive specialty medications for patients with complex and chronic conditions—such as cancer, cystic fibrosis, and HIV—and a continued shift of care from inpatient to outpatient settings.”
“As policymakers debate the future of 340B, it is important they understand the health care and drug market trends that are behind these increased purchase amounts. It is also important that they consider that drugmakers are pocketing additional billions of dollars each year by placing contract pharmacy restrictions and conditions on hospitals, hurting the nation’s safety net.”
Contact: Jon Tilton at jon.tilton@340bhealth.org or 202-536-2285