Pfizer hiked prices up to 20% on 105 drugs
Jan 8 2016, 18:44 ET | About: Pfizer Inc. (PFE) | By: Jason Aycock, SA News Editor
- -Pfizer (PFE -1.3%) raised prices on more than 100 of its drugs on Jan. 1, according to Wolters Kluwer -- some by as much as 20%.
- -The drugmaker confirmed increases of 9.4% for pain drug Lyrica ($2.3B in U.S. sales in 2014); 12.9% for Viagra ($1.1B in 2014 U.S. sales); and 5% for breast cancer drug Ibrance, recently launched at a price of $9,850/month.
- -A UBS research note listed bigger increases, however, including 20% for drugs including anticonvulsant drug Dilantin; hormone therapy Menest; angina drug Nitrostat; irregular heartbeat treatment Tykosyn; and antibiotic Tygacil.
- -The report didn't list any price reductions.
- -Pfizer reports its full-year earnings on Feb. 2; in 2014, it posted biopharma revenue of $45.7B.
Drugmakers Raise Prices Despite Criticisms