Why Is Myrbetriq So Expensive?
Category: Medical FAQ
Posted on December 19, 2021
Scott is passionate about health and wellness, and enjoys writing on various topic surrounding these fields. Scott lives in Seattle and spends his free time restoring old furniture and playing pickleball with his friends.
Do you suffer from an overactive bladder? If so, your doctor may prescribe you Myrbetriq to help your symptoms so that you can do more things that you want to do.
But you may soon wonder, "why is Myrbetriq so expensive?" Unfortunately, there's no easy answer, and the reasons can be extremely frustrating.
Read on to learn more.
One of the main reasons why Myrbetriq is so expensive is due to drug patents in the United States. Once a new drug comes out, the Food and Drug Administration (FDA) will grant patent protection.
This applies to all brand name drugs, so pharmaceutical companies have time to sell the drug without competition. That helps them make back the money they spent on research, but it can affect patients.
When it comes to Myrbetriq specifically, the drug still has patent protection. It will have patent protection for quite a few more years, so the drug won't have any competition from Myrbetriq generic competitors.
Because of that, patients can expect to pay more for the medication for the time being.
Long Approval Process
Even when the drug patents expire, you may still ask, "why is Myrbetriq so expensive?" Once the patent expires, it can take the FDA a while to approve the first generic version.
That gives the drug company even more time to charge as much as it wants for the medication. So don't get too excited at the idea of the patent expiring.
Any generic drug will have to go through the same approval process as Myrbetriq. And if any problems occur, that can lengthen the time it takes to approve generics.
Just because a patent ends doesn't mean the price of Myrbetriq will drop significantly.
No Price Regulation
Once the patent for Myrbetriq 50 mg and other dosages ends, the price probably won't go down too much. The United States doesn't do a ton to regulate drug prices, so manufacturers have complete control.
This applies to both the brand Mybetriq and any generics that will eventually gain approval. If those drug manufacturers want to charge a lot for the medication, they will be able to in the United States.
Patients without sufficient insurance coverage will need to pay a lot. Yes, you may be able to find a Myrbetriq coupon, and that can reduce the price a bit.
However, the drug itself will continue to be expensive for those without access to a coupon.
Some drug companies may feel like they have to charge a lot for medications to keep up with an increase in administrative work. The companies have to pay administrative employees.
As administrative costs increase, drug companies won't want that to cut into their profits. That means charging high prices will be the most efficient way to maintain profits.
Pharmacies and other providers may also have administrative costs. All of that can add up and affect the cost that the patient will need to pay to receive the drug.
Unfortunately, administrative costs can be hard to avoid. And companies may not want to let go of essential employees just to save money for patients.
The whole supply chain is partly to blame for the question, "why is Myrbetriq so expensive?" Other parts of the supply chain can have an impact on how much a drug like Myrbetriq costs.
Some companies work with a pharmacy benefit manager to help negotiate prices and help companies and pharmacies communicate. But like any addition to the supply chain, the pharmacy benefit manager needs to make money.
So while they may keep the drug from getting to be super expensive, they may not help that much. Companies may pass that cost on to the consumer with a higher drug price.
If you receive health insurance through an employer, that may also affect the cost. Your employer may choose which drugs to cover and what benefits to offer, which may increase the cost of your prescriptions.
Speaking of health insurance, your health insurance plan may not cover a ton of things. Whether you receive coverage through an employer or your own plan, you have to consider what benefits the plan offers.
If your plan doesn't cover Myrbetriq, you can expect to pay more for the medication. You may also need to pay more if you have a separate prescription drug deductible or if there are other coverage issues.
Then there's the fact that there are quite a few insurance companies in the United States. No single insurance company has enough power to negotiate drug prices.
However, other companies have fewer insurance companies, so insurance companies have more power. If one insurance provider in Europe stopped covering Myrbetriq, that would affect profits, but that's not the case in the US.
A Patient's Need
Taking Myrbetriq may not mean the difference between life or death, but the medication can affect your quality of life. Since it helps treat an overactive bladder, the drug may help you live more of your life.
You won't have to take as many trips to the bathroom each day. That can give you the freedom to do what you want without feeling like you need to be near a restroom.
Drug companies understand this, so they know that patients will be more willing to pay more for a drug that gives them more control over their lives. Most likely, you and others will pay up to have a better quality of life.
As sad as that can be, the drug companies want to make money. So why would they charge $100 when they know they could get away with $200 and still sell as many prescriptions?
So, Why Is Myrbetriq So Expensive?
Whether you received a new prescription or have taken it for months, you may wonder, "why is Myrbetriq so expensive?" For better or worse, a lot of factors go into the cost of the drug.
From drug patents to knowing patients need the drug, companies have more control over the cost. And that can hurt patients in the long run.
Do you want to save money on Myrbetriq? Order your medication online today.
- FDA: Frequently Asked Questions on Patents and Exclusivity
- PricePro Pharmacy: Myrbetriq
- PricePro Pharmacy: Complete Guide to Out-of-Pocket Costs on Prescriptions
- NCBI: Overactive bladder significantly affects quality of life
- PricePro Pharmacy: How to Order Your Prescription Drugs Online from Canada