PORTLAND, Ore. — Humira is the best-selling medicine in the world and a gold mine for drug maker AbbVie, bringing in $4.87 billion in revenue globally in the second quarter.
The drug, which treats rheumatoid arthritis and Crohn's disease, costs upwards of $60,000 a year.
So it may come as no surprise that Humira is on the list of the 25 most costly drugs for Oregon health insurers in 2018.
The combined list is based on the rankings submitted by nine insurance companies and takes into account total annual spending, rebates and other price concessions.
Slideshow: See the most costly prescription drugs
The Department of Consumer and Business Services issued the first Insurer Reports on Prescription Drugs, as part of the state’s new Drug Price Transparency Program.
Insurance carriers are required to report the 25 most prescribed drugs, the 25 most costly drugs and the 25 that caused the biggest increases in yearly health plan spending. Insurers are not required to submit the actual prices they pay.
Insurers also quantified the impact of prescription drug costs on premium rates. For example, Providence Health Plan said such costs added $60.83 per member per month, or 12 percent, for individual plans.
The Oregon Legislature created the Drug Price Transparency Program in 2018.House Bill 4005 also requires drug manufacturers to justify price hikes for more expensive prescription drugs. Supporters of the legislation argued that exposing key costs drivers will spark further efforts to rein in price escalation.
Later this year, the Division of Financial Regulation will hold a public hearing and start reporting to the Legislature annually based on the information received from manufacturers, insurers and consumers.
Consumers can email Rx.prices@oregon.gov or call 833-210-4560, toll-free, to report an increase in the cost of their prescription drug.
The following companies submitted lists:
- BridgeSpan Health Co.
- Health Net Health Plan of Oregon
- Kaiser Foundation Health Plan of the Northwest
- Moda Health Plan
- PacificSource Health Plans
- Providence Health Plan
- Regence BlueCross BlueShield of Oregon
- Samaritan Health Plans
- UnitedHealthcare
Portland Business Journal is a KGW News partner
