Drugmakers to Hike Prices on 500 Drugs
Big pharma companies including Pfizer are planning to raise prices on more than 500 drugs this month, according to a recent Reuters report.
Using data from healthcare research firm 3 Axis Advisors, the report noted that prices will rise for 140 brands of drugs. When factoring in different doses and formulations, this number jumps to more than 500. Besides Pfizer, Sanofi, and Takeda Pharmaceuticals will also increase prices, it added.
Drugmakers to Hike Prices on 500 Drugs Soon, Report | Kiplinger
Editor’s Note: As long as insurance pays for prescription drugs prices will go up not necessarily because pharmaceutical manufacture’s costs are going up, but simply because they can and they know insurance will pay for it.
What most plan sponsors don’t realize is more than 90% of prescription drugs are generic and in most cases a co-pay as low as $10 is more than the drug costs. This means plan members are, in most cases, paying for generics rather than the insurance company.
