Pfizer, Gilead, and Vertex Raise Prices on Blockbuster Drugs

January 17, 2022

Major pharmaceutical companies are hiking prices on their blockbuster drugs for 2022. Pfizer is spiking the price of its cancer drug Ibrance by 6.9% and raising the cost of several other drugs by up to 10%. Vertex’s CF drug Trikafta will increase by 4.9%, a $15,000/year increase per patient. Meanwhile, Gilead is spiking the prices of many of its HIV drugs.

According to Zachary Brennan of Endpoints News, “Biktarvy, which pulled in more than $7 billion in worldwide sales in 2020, saw a 4.8% price increase in 2021, and now, another 5.6% increase in 2022, according to a new report from the nonprofit 46brooklyn Research. Gilead offered the same 5.6% price hikes for its other HIV drugs: Descovy, which saw sales of more than $1.8 billion in 2020; Genvoya, which brought in more than $3 billion in 2020; and Odefsey, which had $1.7 billion in 2020 sales.”

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