Exclusive: Drugmakers to raise prices on at least 350 drugs in U.S. in January

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Exclusive: Drugmakers to raise prices on at least 350 drugs in U.S. in January
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Drugmakers including Pfizer Inc , GlaxoSmithKline PLC , Bristol Myers Squibb , AstraZeneca PLC and Sanofi SA plan to raise prices in the United States on more than 350 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.

plan to raise prices in the United States on more than 350 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.

In 2022, drugmakers raised prices on more than 1,400 drugs according to data published by 46brooklyn, a drug pricing non-profit that is related to 3 Axis. That is the most increases since 2015. Antonio Ciaccia, president of 3 Axis, said that drugmakers have focused on launching their drugs at higher prices because of the attention paid to annual price increases. The IRA should further this dynamic, he said.

To date, Pfizer announced the most increases, with prices rising on 89 unique drug brands, and an additional increase on 10 drug brands at its Hospira arm. A company spokesperson said there were several driving factors in increasing the list price of the two CAR-T cell therapies, including the rate of inflation, the value of the therapies, and the personalized nature of the CAR-T manufacturing process.

Pfizer noted that net prices - those the company actually receives for its drugs - have fallen in the past four years because of higher rebates and discounts paid to insurance companies and pharmacy benefit managers.

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