Pharma Looks to Raise US Prices on Over 350 Drugs for 2023

January 2, 2023

In the coming weeks, pharma companies from across the industry will raise the price of 350 drugs in the US. The industry contends that the cost increases will come from higher manufacturing costs caused by supply chain disruptions and high inflation rates. Many speculate that the price hikes are in preparation for the coming drug pricing reform under the Inflation Reduction Act.

According to , “To date, Pfizer announced the most increases, with prices rising on 89 unique drug brands and an additional increase on 10 drug brands at its Hospira arm. That was followed by GSK, with planned increases so far on 26 unique drugs, including nearly a seven per cent increase on its popular shingles vaccine Shingrix.Notable increases expected include nine per cent price hikes on Bristol Myers Squibb’s personalised CAR-T cell therapies Abecma and Breyanzi, both of which were already more than $400,000 for the blood cancer treatments.”

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