NEW YORK — Drugmakers including Pfizer, GlaxoSmithKline, Bristol Myers Squibb, AstraZeneca and Sanofi plan to raise prices in the United States on more than 350 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.
The increases are expected to come as the pharmaceutical industry prepares for the Biden Administration’s Inflation Reduction Act, which allows the government’s Medicare health program to negotiate prices directly for some drugs starting in 2026. The industry is also contending with inflation and supply chain constraints that have led to higher manufacturing costs.
The increases are on list prices, which do not include rebates to pharmacy benefit managers and other discounts.
In 2022, drugmakers raised prices on more than 1,400 drugs according to data published by 46brooklyn, a drug pricing non-profit that is connected to 3 Axis. Those are the most increases since 2015.
Biden said his administration has caused drug makers to lower prices. I think he’s not telling the truth.
Oh gee, ya think?
Trump was going to make Big Pharma lower drug prices, and he would have if he was in office where he should be.