Summary
Drugmakers plan to raise U.S. prices on over 250 branded medicines starting Jan. 1, 2025, including Pfizer’s Paxlovid and Bristol Myers Squibb’s cancer therapies.
Most hikes are under 10%, with a median increase of 4.5%, consistent with recent years. Companies like Merck are cutting prices on select drugs.
Critics highlight high U.S. drug costs, as new drugs launched in 2023 were priced 35% higher than in 2022.
Pfizer cited inflation and R&D costs for its adjustments, while Bristol Myers defended high prices for transformative cancer treatments. Additional price hikes are expected in January.
It’s funny how with inflation everything gets more expensive except for employees. Those guys always seem to stay pretty cheap.
Pfizer raised prices of the most drugs on the latest list - more than 60 drugs.
CEO Albert Bourla, who opposes government regulation of pharmaceutical costs, lives in Scarsdale, NY - in case anyone would like to write a letter.
Pfizer cited inflation and R&D costs
Woah woah woah hold on. Aren’t most of those R&D costs covered by a government grant? You can’t use that as an out.
You can. You just can’t use it, and also be telling the truth.
