Drugmakers, including Pfizer, plan to raise prices on over 250 branded medications in the US

From Investing.com: 2024-12-31 07:30:53

Drugmakers, including Pfizer, Bristol Myers Squibb, and Sanofi, plan to raise prices on over 250 branded medications in the U.S. at the start of 2025, with most increases below 10%. This follows a trend of smaller price hikes in recent years, as larger increases face criticism. Prices for new drugs launched in 2023 were 35% higher than in 2022.

The U.S. pays more for prescription drugs than any other country, with drugmakers planning more price increases in January. Pfizer raised prices on over 60 drugs, including Paxlovid, Nurtec, and cancer treatments. Bristol Myers raised prices on Abecma and Breyanzi, personalized cancer cell therapies. Sanofi raised prices on vaccines by 2.9% to 9%.

Other drugmakers, like Leadiant Pharmaceuticals, are also increasing prices significantly – around 15% on Matulane and 20% on Cystaran. These price hikes come as companies aim to support drug development and offset costs. Some companies, like Merck & Co, are cutting prices to align list prices with net prices, a move to provide more transparency in drug pricing.



Read more at Investing.com: Drugmakers to raise US prices on over 250 medicines starting Jan. 1 By Reuters