Pfizer Will Raise US Drug Prices in January
Pfizer (PFE) is a leading global provider of anti-infective medicines, offering patients access to a diverse portfolio of more than 80 products.
Pfizer has announced its plan to increase U.S. prices on 41 of its medicines this January. The company had pulled back its original prices hikes this summer at the urging of President Trump. This increase would affect about 10 percent of Pfizer’s medicines.
The increase of the medicine prices is not expected to increase the company’s revenue because insurance rebates and pharmacy benefit managers are expected to offset the price hikes. Pfizer is leaving it in the hands of insurers and PBMs to make the cost of drugs more affordable.
It is not known whether other drug companies will follow Pfizer’s lead. Roche, Merck & Co, and Novartis all pledged to not raise their U.S. prices before the end of the year, just as Pfizer had.
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