Drugmakers Set to Raise US Prices on 500 Drugs in January

Pfizer, Sanofi, and Takeda Pharmaceutical, among other drugmakers, are planning to raise prices on over 500 drugs in the United States in January. The price hikes come ahead of the Biden Administration’s plan to publish discounted prices for high-cost drugs. These increases are largely within the 10% range and come amid concerns about inflation and supply chain disruption. While drugmakers face penalties for price increases that outpace inflation, prices for newly launched drugs have hit record levels, according to data from 46brooklyn. Eli Lilly plans to lower insulin prices in December but raise prices for the diabetes drug Mounjaro in January.

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