You are here

For the Second Time This Year, Pfizer Hikes Drug Prices

The move comes even though some of the pharma company’s rivals have promised to raise prices only once a year.

The move comes even though some of the pharma company’s rivals have promised to raise prices only once a year.

The price for Pfizer’s lung-cancer treatment Xalkori, its blood-pressure pills Norvasc, and its pain capsules Lyrica will be going up, along with about 40 other of the company’s drugs, the Wall Street Journal reports. Pfizer, the world’s biggest drug company by sales, defends its actions by saying that it frequently sells its drugs at discount and, anyway, it is not responsible for what patients must pay in co-pays or out-of-pocket costs.

The company said in a statement: “The list price remains unchanged for the majority of our medicines. We are modifying prices for about 10% of our medicines, including some instances where we’re decreasing the price.”

The WSJ reports that many of the increases “lift the list prices by 9.4% and by double-digit percentages for the year overall.”

Source: Wall Street Journal

More Headlines

Agency says products for sexual enhancement, weight loss, and bodybuilding have hidden drugs and chemicals.
A meta-analysis that included 18 million participants found no protection from heart disease or stroke.
There is a small difference between them and biosimilars that physicians, patients, and insurers should be aware of.
It will nearly quadruple within the next five years, according to a new report, though concerns about how they’re manufactured remain.
Some of that can be chalked up to the differences in cost of living from place to place, but not all.
Health plans expected to continue pushing for value-based payment arrangements.
One of the proposed changes makes remote patient monitoring an allowable cost.
European researchers looked at arthritis’ patients reactions when being switched from etanercept or nfliximab.
Puts down $700 million to buy nearly 50% of Samsung.