Drug Makers Raise Prices on 500 Prescription Drugs
WEDNESDAY, Jan. 6, 2021 -- With the new year comes another round of prescription drug price hikes, CBS News reported Tuesday.
The data come from 46brooklyn Research, a nonprofit company that aims to improve access to drug pricing information. AbbVie, Bristol Myers Squibb, GlaxoSmithKline, Pfizer, and other major pharmaceutical companies are raising their prices by a median of 4.6 percent, the nonprofit said. In all, more than 500 drugs will cost more this year.
GlaxoSmithKline raised the price on 34 of its drug brands on Jan. 1, company spokesperson Lyndsay Meyer told CBS News. "Compared to last year, we've taken fewer list price increases and we didn't raise the list price of 18 products across our portfolio," Meyer noted.
Pfizer told CBS News that its prices rose about 1 percent. "This modest increase is necessary to support investments that allow us to continue to discover new medicines and deliver those breakthroughs to the patients who need them," a company spokeswoman said.
Bristol Myers Squibb "responsibly balances pricing its medicines so high-risk innovation is rewarded while providing access and affordability support for its patients," the company said in a statement to CBS News. The company sells the lung cancer treatment Opdivo, which is expected to rise 2 percent in price, and the arthritis drug Orencia, which is looking at a 5 percent jump, CBS News said.
Other drugs expected to see price hikes include Zipsor (by 10 percent), Sabril (by 10 percent), Humira (by 7 percent), Kengreal (by 6 percent), Lyrica (by 5 percent), and Chantix (by 3 percent).
© 2021 HealthDay. All rights reserved.
Posted: January 2021
Read this next
THURSDAY, Jan. 14, 2021 -- After a long wait for approval from the Chinese government, a World Health Organization team of experts arrived in the city of Wuhan on Thursday to try...
THURSDAY, Jan. 14, 2021 -- The incidence of laboratory-confirmed COVID-19 increased since September among children, adolescents, and young children, according to research...
THURSDAY, Jan. 14, 2021 -- For patients with ST-segment elevation myocardial infarction (STEMI) undergoing primary percutaneous coronary intervention (pPCI), symptom-to-balloon...
More News Resources
- FDA Medwatch Drug Alerts
- Daily MedNews
- News for Health Professionals
- New Drug Approvals
- New Drug Applications
- Drug Shortages
- Clinical Trial Results
- Generic Drug Approvals
Subscribe to our Newsletter
Whatever your topic of interest, subscribe to our newsletters to get the best of Drugs.com in your inbox.