Prices of trazodone, a generic antidepressant, dropped to $10.30 from $11.40 a pill earlier this month after generic rival Seroquel was priced at $8.50, according to drug price comparison site Dr. Charles Seife.
The price hike has prompted at least one major retailer to lower its prices, said Martin Schadl, vice president of research at Euromonitor, a technology industry analysis firm.
Bayer was the first drug company to reduce price on Seroquel, he noted. But it is still facing pressure on drugs like Trazodone from generic rivals, analysts said.
"It does not seem like the generic competition is in any way going to slow their march towards these prices," Schadl said. "The question is how long will Trazodone for sleep weight loss prescription medicine it be until other generic developers get to the market, and when will they be ready?"
A spokeswoman for the company, which has received criticism from lawmakers at both ends of Pennsylvania's political spectrum, pointed to data from the Medicare Drug Price Negotiation Program to question any link between generic prices and Trazodone 100mg $149.39 - $0.83 Per pill the company's prices.
The program allows government to negotiate drug prices for private Medicare plans. While the agency says that generic drugs are usually cheaper, it does not track the actual costs of generic drugs.
The drug, which had sales of nearly $4 billion in 2013, is generically made and marketed by Kite Pharma of Redwood Falls.
"The Generic Development Program is the most effective way to ensure that generic drugs get to the marketplace quickly and efficiently, that they reach patients in a timely manner," said the spokeswoman in comment sent to Reuters.
The spokeswoman also said that generic prices "have no direct correlation with the price that we have to pay for these drugs, which is set independently by the FDA and set a manufacturer on an ongoing basis based current and historic pricing generic pharmacy net coupon of the medicines in United States."
(Reporting By Martin Howell; Editing David Gregorio)
- Hervey Bay
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