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More Drugmakers Hike U.S. Prices as New Year Begins
Key Excerpts from Article on Website of US News & World Report/Reuters
Posted: January 13th, 2020
https://www.usnews.com/news/top-news/articles/2020-01-01/mor...
Drugmakers including Bristol-Myers Squibb Co, Gilead Sciences Inc, and Biogen Inc hiked U.S. list prices on more than 50 drugs on Wednesday, bringing total New Year's Day drug price increases to more than 250, according to data analyzed by healthcare research firm 3 Axis Advisors. Reuters reported on Tuesday that drugmakers including Pfizer Inc, GlaxoSmithKline PLC and Sanofi SA were planning to increase prices on more than 200 drugs in the United States on Jan. 1. More early year price increases could still be announced. Many branded drugmakers have pledged to keep their U.S. list price increases below 10% a year, under pressure from politicians and patients. The United States, which leaves drug pricing to market competition, has higher prices than in other countries where governments directly or indirectly control the costs, making it the world's most lucrative market for manufacturers. Soaring U.S. prescription drug prices are expected to again be a central issue in the presidential election.
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