Eliquis, a widely prescribed anticoagulant, has become a vital medication for millions worldwide.
Even though it helps avoid blood clots and strokes in important ways, many patients don’t understand why it costs so much.
In this article, we’ll talk about the things that make Eliquis so expensive and some ways to deal with the costs.
What is Eliquis
Eliquis is a prescription medication primarily used as an anticoagulant or blood thinner. Its generic name is Apixaban.
This medication helps reduce the risk of blood clots, strokes, etc., by preventing the formation of blood clots.
Eliquis works by inhibiting certain coagulant enzymes in the blood, making it less likely for clots to develop.
It is commonly prescribed to individuals with Atrial Fibrillation or those who have undergone hip or knee replacement surgery.
Factors affecting Eliquis prices
Understanding the cost of Eliquis is much more complex than it looks.
The pharmaceutical industry is a complex web of medicine development, marketing, regulatory requirements, and pricing strategies.
Several key factors contribute to the high price of Eliquis, some of them are discussed below:
Manufacturing and quality control
Medications like Eliquis must use advanced manufacturing machines and strict quality control to meet the best quality standards.
These steps are not only expensive but they are also needed to keep the consumer safe.
Want to know the difference between Eliquis and other blood thinners? Read our article: Eliquis vs Xarelto
Research and development (R&D)
One of the main reasons why Eliquis is so expensive is that it goes through a long Research and Development (R&D) process before it is sold.
Medicine companies spend billions of dollars trying to find and test new medicines.
Only a few experimental medicines make it to the final stage of FDA approval. This is another reason why the pricing of the medicines is so high.
Marketing and promotion
Large amounts of money are spent by pharmaceutical businesses to market and promote their products.
This includes advertising that goes straight to the consumer, which drives up the general price of the medicine.
Even though these things help get the word out about the medicine, they also raise the price that users must pay.
In conclusion, there are many answers to the question, “Why is Eliquis so expensive?”
Eliquis, a known anticoagulant, is expensive due to various factors.
Research and Development costs, strict regulatory processes, quality assurance, and large marketing costs are some of the factors.
While the cost might not suit the consumer, understanding these underlying cost-determining factors is essential.
Frequently Asked Questions
Why is Eliquis so expensive compared to other medications?
Eliquis’ high cost is due to factors like research and development, regulatory requirements, and marketing expenses, which are essential for selling the medication in the market.
Are there any generic alternatives to Eliquis available to reduce costs?
While some generic alternatives may exist, they may not be widely available due to the complexity of manufacturing and regulatory approval.
How can patients manage the cost of Eliquis effectively?
Patients can explore options like insurance coverage, patient assistance programs and discussing alternative treatments with their doctor to better manage the expenses.
Does Eliquis pricing vary between brand and generic versions?
Generic versions of Eliquis, if available, may be less expensive than the brand-name version. However, the price difference can still be significant.
Is Eliquis a prescription-based medicine?
Yes, Eliquis is a prescription-based medication. It cannot be bought without a valid prescription from a doctor due to its anticoagulant properties.