Drugmakers from Pfizer to GSK to hike US prices on over 200 drugs, as prescription drug prices become a hot 2020 campaign topic

FILE PHOTO: The logo of U.S. pharmaceutical corporation Pfizer Inc. is seen at a branch in Zurich, Switzerland October 2, 2018. REUTERS/Arnd WiegmannReuters

  • Drugmakers including Pfizer Inc, GlaxoSmithKline PLC, and Sanofi SA are planning to hike US list prices on more than 200 drugs in the United States on Wednesday, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.
  • Nearly all of the price increases will be below 10%, and around half of them are in the range of 4 to 6%, said 3 Axis co-founder Eric Pachman. The median price increase is around 5%, he said.
  • More price increases are expected to be announced later this week, which could affect the median and range.
  • Soaring US prescription drug prices are expected to again be a central issue in the presidential election. President Donald Trump, who made bringing them down a core pledge of his 2016 campaign, is running for re-election in 2020.
  • GlaxoSmithKline said it will raise prices on more than 30 drugs. The company will raise prices on the blockbuster respiratory treatments it delivers through its Ellipta inhaler, its recently acquired cancer drug Zejula and on several products in its HIV-focused ViiV joint venture, according to 3 Axis Advisors.
  • Visit Business Insider's homepage for more stories.

NEW YORK (Reuters) - Drugmakers including Pfizer Inc <PFE.N>, GlaxoSmithKline PLC <GSK.L> and Sanofi SA <SASY.PA> are planning to hike U.S. list prices on more than 200 drugs in the United States on Wednesday, according to drugmakers and data analyzed by healthcare research firm 3 Axis Advisors.

Nearly all of the price increases will be below 10%, and around half of them are in the range of 4 to 6%, said 3 Axis co-founder Eric Pachman. The median price increase is around 5%, he said.

See the rest of the story at Business Insider

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