Pfizer to hike prices of 41 prescription drugs next year

"Actions announced today on list prices further illustrate the perverse incentives of America's drug pricing system", said Health and Human Services spokesperson Caitlin Oakley, in an emailed statement to BioPharma Dive.

Pfizer noted Friday that the increases will be offset by higher rebates and discounts offered to insurance companies and pharmacy benefit managers, which administer drug programs for employers, federal and state governments and other clients.

In July, half a dozen or so major drugmakers agreed to pause, refrain from or reverse mid-year increases to prices on their products, an olive branch to an administration in the midst of rolling out policies aimed at rising drug costs. Most of the increases will be 5%, but three of the drugs will see a 3% increase and one will see a 9% increase.

"The company will return these prices to their pre-July 1 levels as soon as technically possible, and the prices will remain in effect until the earlier of when the president's blueprint goes into effect or the end of the year-whichever is sooner", Pfizer said in the statement.

US officials aren't happy: The move illustrates the "perverse incentives of America's drug pricing system", said a spokeswoman for the Health and Human Services Secretary Alex Azar.

Sucking your child's dummy 'clean' could give them a health boost
Bill Hesselmar, an associate professor in pediatrics at the University of Gothenburg who authored that study. Additional analyses indicated the differences were first seen at about 10 months, researchers said.

But by October, it became clear that Pfizer would go back to raising drug prices.

Pfizer did not tip off the administration that the latest round of price increases was coming, according to a source familiar with the matter. "Look, I don't think our pricing situation has changed".

As spokeswoman on Friday declined to specify which drugs would be subject to the five percent price hike, but The Wall Street Journal in July reported that they included a lung cancer treatment, blood pressure pills and popular pain medication Lyrica.

Congress is expected to continue its focus on reducing drug prices next year, and it's one of the few areas of common ground between the parties. Both Trump and Democratic leader Nancy Pelosi, who is vying to reclaim her post as House speaker, mentioned it the day after the midterm elections last week.


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