Drugmakers to hike U.S. prices of over 200 meds

Reuters reports that pharmaceutical companies, including Pfizer (NYSE:PFE), GlaxoSmithKline (NYSE:GSK) and Sanofi (NASDAQ:SNY), are planning to raise prices on more than 200 medicines in the U.S. tomorrow.

The price hikes are expected to be relatively modest, almost all below 10% and half between 4 – 6%.

Pfizer intends to boost prices on more than 50 drugs, including breast cancer med Ibrance (palbociclib) and arthritis/UC med Xeljanz (tofacitinib). A spokesperson stated that the average increase will be 5.6%.

GSK plans to raise prices on more than 30 medicines by 1 – 5%.

Sanofi will follow suit on ~10 drugs by 1 – 5%.

According to healthcare research shop 3 Axis Advisors, Teva Pharmaceutical Industries (NYSE:TEVA) raised prices on more than 15 drugs by more than 6%.

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https://seekingalpha.com/news/3529000-drugmakers-to-hike-u-s-prices-of-over-200-meds