Pfizer Prescription Price Hikes Are Out And They’re High
Pfizer raised prices on over 100 of its prescription drugs, according to a Financial Times report Monday.
The majority of price increases were over nine percent, according to the Financial Times report. The price of Viagra went up 19.8 percent, from $73.85 to $88.45, according to the article.
Other standouts were Chantix, a drug that helps people quit smoking, with a 17 percent price raise, and Xalatan, glaucoma eye drops, with a 20 percent price increase. (RELATED: Government To Spend $17 Million On Insurance Subsidies In 2018)
“The list price remains unchanged for the majority of our medicines. We are modifying prices for 10 per cent of our medicines, including some instances where we’re decreasing the price,” Pfizer told the Financial Times on Monday.
Pfizer wasn’t the only company to raise drug prices this week. Seattle Genetics increased the price of Adcentris, a drug that treats Hodgkin lymphoma, 3.9 percent to $7,375 per vial, according to a Monday tweet from a CNBC reporter.
In today’s drug price increases:$SGEN raises Adcetris 3.9% to $7,375/vial, per SunTrust, which points out 2x/yr 3.9% increases since 2012$REGN & $SNY raise Dupixent U.S. price 3% to $2,932 per 2-syringe pkg, also per SunTrust, citing Wolters Kluwer PriceRx – drug’s 1st increase
— Meg Tirrell (@megtirrell) July 2, 2018
Regeneron Pharmaceuticals increased the price of Dupixent, a drug that treats atopic eczema, three percent to $2,932 per package, according to the same tweet.
The price increases come in contrast to President Donald Trump’s statement in May that drug companies would announce “voluntary massive drops in prices,” according to Reuters on May 30.