Pharma's routine January price hikes are here once again—and not even a global pandemic seems to be slowing the number of increases. Amid ongoing scrutiny from politicians and the public, though, the level of many of the price hikes seems muted compared with previous years.
As of Sunday, drug companies large and small had raised prices on nearly 600 medicines by an average of 4.2%, GoodRx reports.
Pfizer's hikes comprise a significant portion of the list: The company raised prices on more than 130 products to start the year, ranging from a 0.22% jump for antiarrhythmic medicine Norpace CR to a 5.14% increase for pneumococcal shot Prevnar 13, the world's bestselling vaccine.
Allergan, acquired last year by AbbVie, raised prices on more than 30 medicines by 5%. It also raised prices on several other drugs by low-single-digit percentages. Bausch Healthcare implemented 39 price hikes ranging from 3.43% to 7.9% as well.
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Bristol Myers Squibb, meanwhile, raised prices on 11 medicines; its highest hike was a 6% boost for blockbuster blood thinner Eliquis, a drug it shares with Pfizer.
And fellow Big Pharma GlaxoSmithKline lifted prices for 31 medicines and vaccines. Some of GSK's price increases for vaccines came in above 5%, such as a 7% increase for shingles shot Shingrix and an 8.59% increase for combination diphtheria, pertussis and tetanus vaccine Pediarix.
AstraZeneca, Sanofi, Gilead Sciences and Bayer, for their parts, each raised prices on more than 10 medicines by low-single-digit percentages. But while several manufacturers kept their price hikes to low- or mid-single-digit percentages in 2021, Teva Pharmaceutical Industries raised prices on 16 medicines by more than 9%, GoodRx reports.
The largest price hike so far this year comes from Vifor. The company raised its price on Venofer by 14.58%.
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