340B program reaches $100 billion in sales, while patients are left behind

The 340B Drug Pricing Program has grown yet again, exceeding $100 billion in sales in 2022 when 340B-priced medicines are measured at wholesale acquisition cost. Recent data from IQVIA shows 340B grew 12.2% year-over-year in 2022, continuing a trend in which 340B sales have almost doubled since 2018, outpacing growth of the total U.S. drug market.

If the 340B program was functioning as Congress intended, this growth would be a good thing for vulnerable patients. However, there is little to no evidence 340B is always providing patients with access to affordable health care and medications they need. Instead, it has devolved into a program that’s less about patients and more about boosting the bottom lines of hospitals, for-profit pharmacies and pharmacy benefit managers (PBMs).

Eligible hospitals can buy deeply discounted 340B medicines and then charge patients higher prices — all while pocketing the difference. There is no requirement that 340B hospitals pass along discounts to patients or report how they use the profits to help patients access medicines.

This latest report makes clear that, without meaningful action from Congress to get 340B back on track and working for the patients who need it most, the program will continue to grow exponentially while leaving patients behind.

Learn more at PhRMA.org/340B.