The price of Synthroid has seen fluctuations, with some reports indicating significant increases over time. For instance, the average retail price for Synthroid (levothyroxine sodium) 100 mcg tablets has been documented to rise from approximately $30-$40 in 2013 to over $110-$120 by 2023 [1]. This represents a substantial jump of over 200% in a decade [1].
Why Are Synthroid Prices Changing?
The reasons behind price changes for medications like Synthroid can be multifaceted. Factors often include manufacturing costs, research and development investments, market demand, and the competitive landscape. For established drugs like Synthroid, which has been around for many years, price adjustments may also be influenced by patent expirations and the subsequent market entry of generic alternatives [2].
How Does Synthroid Compare to Generic Levothyroxine?
Synthroid is a brand-name prescription medication containing levothyroxine sodium, a synthetic form of thyroid hormone used to treat hypothyroidism [3]. Generic versions of levothyroxine sodium are also available and are chemically equivalent to Synthroid, meaning they contain the same active ingredient and are absorbed by the body in the same way [3]. While the active ingredient is the same, there can be differences in inactive ingredients between the brand-name drug and its generic counterparts, which can occasionally affect how the drug is processed by a small percentage of patients [4].
When Does Synthroid's Patent Exclusivity End?
Synthroid's primary patents have long since expired, allowing for the production and sale of generic levothyroxine sodium [2]. This patent expiry is a key reason why multiple generic versions are available on the market, often leading to lower prices compared to the brand-name drug.
Who Manufactures Synthroid?
AbbVie Inc. manufactures Synthroid [5]. AbbVie is a global biopharmaceutical company formed from Abbott Laboratories in 2013.
Can Insurance Cover Synthroid Costs?
Most insurance plans cover Synthroid, especially when prescribed by a healthcare provider for a diagnosed medical condition like hypothyroidism. However, the extent of coverage, including co-pays and deductibles, varies significantly depending on the specific insurance plan and formulary [6]. Patients often find that generic levothyroxine is more cost-effective and may be preferred or even mandated by some insurance policies [4, 6].
What Are the Potential Side Effects of Levothyroxine?
When taken as prescribed, levothyroxine is generally safe and effective for managing hypothyroidism. However, taking too much thyroid hormone can lead to serious side effects. These can include rapid or irregular heartbeat, chest pain, shortness of breath, headache, nervousness, irritability, trouble sleeping, tremors, increased appetite, weight loss, increased sweating, increased sensitivity to heat, fever, menstrual changes, and, in rare cases, seizures [3, 7].
Sources:
[1] https://www.goodrx.com/synthroid/drug-price-history
[2] https://www.drugpatentwatch.com/
[3] https://www.mayoclinic.org/drugs-supplements/levothyroxine-oral-route-parenteral-route/proper-use/drg-20074550
[4] https://www.webmd.com/thyroid/synthroid-vs-levothyroxine-generics
[5] https://www.labeling.abbvie.com/globalassets/microsites/abbvie/synthroid/synthroid-pi.pdf
[6] https://www.healthcare.gov/using-insurance/covered-services/prescription-drugs/
[7] https://www.nhs.uk/medicines/levothyroxine/side-effects-of-levothyroxine/