US drug prices to soar reports Reuters


Deprecated: strlen(): Passing null to parameter #1 ($string) of type string is deprecated in /home/medicircle/public_html/script_newsdetails.php on line 75
▴ Pfizer,Glaxo Smith Kline, & Sanofi Logo
US to experience rise in the price of major drugs as major companies increases their price

Drugmakers including Pfizer Inc , GlaxoSmithKline PLC  and Sanofi SA  are planning to hike U.S. list prices on more than 200 drugs in the United States on Wednesday, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.

Nearly all of the price increases will be below 10%, and around half of them are in the range of 4 to 6%, said 3 Axis co-founder Eric Pachman. The median price increase is around 5%, he said.

More price increases are expected to be announced later this week, which could affect the median and range.

Soaring U.S. prescription drug prices are expected to again be a central issue in the presidential election. President Donald Trump, who made bringing them down a core pledge of his 2016 campaign, is running for re-election in 2020.

Many branded drugmakers have pledged to keep their U.S. list price increases below 10% a year, under pressure from politicians and patients.

Drugmakers often negotiate rebates on their list prices in exchange for favorable treatment from healthcare payers. As a result, health insurers and patients rarely pay the full list price of a drug.

Pfizer will hike prices on more than 50 drugs, including its cancer treatment Ibrance, which is on track to bring in nearly $5 billion in revenue this year, and rheumatoid arthritis drug Xeljanz.

Pfizer spokeswoman Amy Rose confirmed the company’s planned price increases. She said the company plans to increase the list prices on around 27% of its portfolio in the United States by an average of 5.6%.

Of the medicines with increases, she said 43% of them are sterile injectibles, and many of those increases are less than $1 per product.

Glaxo Smith Kline said it will raise prices on more than 30 drugs. The company will raise prices on the blockbuster respiratory treatments it delivers through its Ellipta inhaler, its recently acquired cancer drug Zejula and on several products in its HIV-focused ViiV joint venture, according to 3 Axis Advisors. Price increases ranged between 1% and 5%.

Sanofi said it will raise prices on around 10 of its drugs, with hikes ranging between 1% and 5%. The drugmaker noted the increases are in line with its commitment to not raise prices above medical inflation.

Teva Pharmaceutical Industries Ltd  raised prices on more than 15 drugs, in some cases by more than 6%, according to 3 Axis Advisors. A Teva spokesperson said the company regularly reviews prices in the context of market conditions, availability and cost of production.

3 Axis advises pharmacy industry groups on identifying inefficiencies in the U.S. drug supply chain and has provided consulting work to hedge fund billionaire John Arnold, a prominent critic of high drug prices.

Tags : #drug #price #increase #pifizer #flaxosmithkline #sanofi #medicircle

Related Stories

Loading Please wait...

-Advertisements-



Trending Now

Sankara Eye Hospitals Successfully Hosts 20th Annual VISION 2020 India Conference, Celebrating 50 Years of the Sankara MovementJuly 16, 2026
Manipal Hospital Bhubaneswar Successfully Treats Rare Brain Injury Caused by Post-Traumatic Workplace AccidentJuly 16, 2026
Immuneel Therapeutics and Tata Memorial Centre Sign Strategic MoU to Advance Cell and Gene Therapy Research in India July 16, 2026
Breast Cancer Early Warning Signs: What Every Woman in India Needs to KnowJuly 16, 2026
HbA1c Test Explained: What It Measures, Normal Range, and Why It Matters for IndiansJuly 16, 2026
Not Just Weight Loss: How Bariatric Surgery Improves Diabetes, PCOS, and Thyroid-Related Health ChallengesJuly 15, 2026
Leiutis Pharmaceuticals announces CDSCO approval for Global-First Synthetic CBD Therapy for Mild to Moderate Anxiety DisordersJuly 15, 2026
Dr Agarwals Institute of Optometry and SASTRA University Jointly Launch Optometry ProgrammeJuly 15, 2026
SIMS Hospital Treats Spinal Compression in 84-Year-Old with Pacemaker Through Single-Incision Endoscopic SurgeryJuly 15, 2026
Apollo Hospitals Secunderabad Successfully Treats Achalasia Cardia Patients with Advanced POEM ProcedureJuly 15, 2026
Happiest Health Announces Entry into Healthcare Publishing BusinessJuly 15, 2026
Indian Stroke Association Expands ‘Save the Brain’ Campaign with Stroke 360° Scientific Conference in SalemJuly 15, 2026
Milann Successfully Overcomes a Hidden Fertility Barrier: Chronic Endometritis Diagnosed and Treated, Leading to Successful IVF PregnancyJuly 15, 2026
Forus Health Launches FH eyepal, a Connected Digital Eye Clinic Designed to Expand Access to Comprehensive Eye CareJuly 15, 2026
Adult ADHD Diagnostics: Why Evaluations Are Rising Later in LifeJuly 15, 2026
Healthcare Apps Changing Patient Care: How Digital Health Tools Are Reshaping India's Healthcare LandscapeJuly 15, 2026
How Stress Affects Physical Health: Understanding the Body's Response and What You Can Do About ItJuly 15, 2026
Pediatric Immunity: Realities of Seasonal Vaccines & DevelopmentJuly 14, 2026
Hormonal Imbalances in Women: PCOS and Perimenopause July 14, 2026
Erectile Dysfunction and Overall Health: Why It Is a Signal, Not Just a SymptomJuly 14, 2026