New drug launch prices climb 35% to $257,000 median, with a quarter exceeding $500,000

A recent analysis of 202 newly launched medicines shows the median net price jumped 35% last year, reaching $257,000 compared with $173,000 in 2022. The study adjusted prices for inflation and typical manufacturer discounts.

One in four of the drugs introduced in 2025 had an annual net price above $500,000, while another 34% fell in the $200,000‑$500,000 range. List prices also rose, increasing 24% to a median of $293,000 after inflation adjustment.

The findings, released by the Institute for Clinical and Economic Review and West Health, highlight that despite a slight dip in launch prices overall, the cost of new medicines remains high, underscoring ongoing concerns about affordability for patients and payers.