Statement on Celgene’s Revlimid Price Hike

CSRxP spokesman Will Holley released the following statement in response to today’s report that Celgene will once again raise the price of Revlimid:

“Today’s announcement that Celgene is yet again raising the price of Revlimid demonstrates very clearly the failures of the prescription drug market in the United States.  Over the last 18 months, Celgene has hiked the price of Revlimid by nearly 25%, far outstripping any measure of inflation.  And yet there is no competition for this $8.2 billion market because of Celgene’s anticompetitive abuses that prevent generic versions from competing.

“The Trump Administration’s focus on list prices, as well as the steps that HHS and FDA have taken to highlight the ‘gaming’ that artificially extends monopoly pricing power, are worthy of praise.  But Celgene’s actions today demonstrate that there remains much to be done, starting with passage of the CREATES Act by Congress.  We will continue to work with policymakers in Congress and the Administration to achieve our shared goal of lower drug prices for all Americans.”