pills and money

Spikes in Prescription Drug Prices

Spikes in Prescription Drug Prices

Investigating Drug Spikes

The Department of Financial Services investigates significant price increases for certain drugs sold, purchased or advertised in New York State and requires companies to show a reasonable justification for sudden increases.

The Drug Accountability Board is a panel of experts that aids in the investigation of drug spikes. It is charged with making determinations about drug spikes and issuing reports to the Superintendent on those determinations.

A price hike should be reported when:

  1. you can show that the price for a prescription drug increased by fifty percent (50%) or more within the last calendar year, and
  2. that the drug has been sold and is being offered for sale within the state of New York.

Current Investigations

Drugs identified for investigation will be listed here.

  • Ascor (ascorbic acid) 25,000 mg/50 mL bulk vial
  • Budesonide 0.5 mg/2 mL inhalation (60 mL).
  • Dexonto (dexamethasone) 5 mL vial of a 0.4% solution
  • Mytesi (crofelemer) 125 mg delayed release tablet, 60s
  • Duramorph (morphine sulfate) 1 mg/1 ml (10 mL 10s)
  • Chloroquine phosphate 250 mg tablets

The outcomes of previous investigations will be posted to our Reports & Publications section as they are released

Reporting a Drug Price Spike

Online Form

Use the secure online Report A Drug Price Spike reporting form to report a dramatic increase in the cost of a drug or pharmacy benefit that you use. You can also check the status of a complaint, or add information to an existing complaint. Be aware that we may share a copy of your complaint with the company or individual you are complaining about.

To get started please visit the DFS Portal:

Printable Forms

You are strongly encouraged to submit your complaint online using the above DFS Portal form. This will avoid delay in the handling of a paper complaint. If you must use a paper complaint, they are available below and can be mailed to the Department of Financial Services, Attn: Office of Pharmacy Benefits, 1 Commerce Plaza, Albany, NY 12257.

Printable Forms in Other Languages