ICER reports two-thirds of new drugs launched 2022-2025 priced well above cost-effectiveness thresholds

ICER’s latest analysis of launch prices for new prescription medicines shows a sharp rise in net costs between 2022 and 2025. After adjusting for inflation, the median price climbed from $190,000 in 2022 to $257,000 in 2025, and two‑thirds of the drugs evaluated exceeded the group’s cost‑effectiveness threshold.

The increase is driven in part by high‑cost gene and cell therapies, which, while often administered only once, carry price tags that can exceed $500,000 for nearly a quarter of the products reviewed.

ICER urged manufacturers to adopt fair pricing practices and called on insurers to improve patient access. The report noted that roughly four in ten prescriptions for the evaluated medicines were denied, with higher denial rates among Medicare beneficiaries.

The watchdog recommends value‑based pricing paired with streamlined access and minimal cost‑sharing for patients to ensure affordability while preserving innovation.