Drug prices, especially those set when new medications first hit the market, are climbing higher and higher, according to the Institute for Clinical and Economic Review (ICER), an organization that monitors drug costs. In a report coming out in October, ICER will look at how much these prices are increasing and whether the higher costs actually mean better results for patients. They’ll also examine how easily people can get these medications. Earlier this year, ICER found that cancer drugs launched between 2008 and 2022 often cost twice as much—around $200,000 on average—but weren’t necessarily more effective than older, cheaper options. Patient access in the U.S. is also a big concern. Insurance coverage adds another layer of complexity to how much drugs really cost. The upcoming report will study drugs approved by the FDA between 2022 and 2024, looking at both the official list price and the net price after discounts, as well as how well these drugs work and what patients pay at the pharmacy. The report will cover 160 new drug approvals over three years, excluding generics, biosimilars, and vaccines. Some of the drugs being studied include Mounjaro (a diabetes and weight-loss medication), Elevidys (a gene therapy for muscular dystrophy), Casgevy (a CRISPR-based treatment), Carvykti (a cell therapy for cancer), and Sunlenca (an HIV prevention drug). The goal of this report—and future ones—is to help policymakers, researchers, and others find ways to make drugs more affordable and easier to access. While there’s agreement that drug costs need to come down, different groups often disagree on how to do it. ICER has been working since 2005 to make drug pricing more transparent by comparing drug prices to their actual benefits. In a 2023 report, ICER found that many drugs didn’t have strong evidence to justify their high prices. Drug companies often say high prices cover the cost of research, but without clear proof that a drug is better, these price hikes may not be justified. ICER also questions how government policies, like Medicare’s drug price negotiations, will affect future drug prices. Some worry that drugmakers might raise initial prices to make up for future discounts. The report will include the official list price for each drug, along with average prices for each year to track trends. Comparing different types of drugs—like long-term treatments versus one-time gene therapies—can be tricky, but ICER has experience in making these comparisons based on how much they improve a patient’s life. Beyond list prices, ICER will also look at real-world access to these drugs. They’ll study insurance coverage rules from major health plans to see which drugs are covered and which have restrictions. They’ll also analyze data on how often prescriptions are filled or rejected due to insurance requirements, helping to show what patients actually pay out of pocket.