Under pandemic pressure, drug manufacturers raise prices in the US: report Business and Economy News

Pfizer, GSK, Sanofi and Teva raise the prices of some drugs by less than 10 percent, according to the new report.

Drug manufacturers, including Pfizer Inc, Sanofi SA and GlaxoSmithKline Plc, will plan to raise the prices of more than 300 drugs in the United States on January 1, according to pharmaceutical companies and data analyzed by health research firm 3 Axis Advisors.

The hikes come as pharmaceutical giants shrink from the effects of the COVID-19 pandemic, which has reduced doctor visits and demand for some drugs. They are also fighting the Trump administration’s new drug pricing rules, which would reduce the profitability of the industry.

The companies maintained their price increases at 10% or less and the major pharmaceutical companies that raised prices so far, Pfizer and Sanofi, maintained almost all of their price increases at 5% or less, 3 Axis said. 3 Axis is a consulting firm that works with pharmaceutical groups, health plans and foundations on drug pricing and supply chain issues.

GSK raised the prices of two vaccines: the Shingrix shingles vaccine and the Pediarix diphtheria, tetanus and pertussis vaccine, by 7 and 8.6 percent, respectively, according to 3 Axis.

Teva Pharmaceuticals Inc. raised prices for 15 drugs, including Austedo, which treats rare neurological disorders, and the asthma steroid Qvar, which together grossed more than $ 650 million in sales in 2019 and experienced price rises. between 5 and 6 percent. Teva raised the prices of some medicines, including the muscle relaxant Amrix and the Nuvigil narcolepsy treatment, by up to 9.4%.

More price hikes are expected to be announced on Friday and early January.

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El 2020, les companyies farmacèutiques van augmentar els preus de més de 860 medicaments aproximadament un 5%, de mitjana, segons 3 Axis. Els augments del preu dels medicaments s’han reduït substancialment des del 2015, pel que fa a la mida de les pujades i al nombre de medicaments afectats.

Els augments es produeixen a mesura que empreses farmacèutiques com Pfizer desenvolupen vacunes contra el COVID-19 en un temps rècord. Les alces podrien ajudar a compensar la pèrdua d’ingressos a mesura que les visites dels metges i les noves receptes van caure en picat durant el tancament global.

Pfizer planeja augmentar els preus de més de 60 medicaments entre un 0,5 i un 5 per cent. Aquests inclouen aproximadament un 5% d’increments en alguns dels seus més venuts, com ara el tractament de l’artritis reumatoide Xeljanz i els medicaments contra el càncer Ibrance i Inlyta.

Pfizer planeja augmentar els preus de més de 60 medicaments entre un 0,5 i un 5 per cent [File: Mario Tama/Getty Images]

Pfizer said it had adjusted list prices for its drugs by about 1.3 percent on all products in its portfolio, in line with inflation.

“This modest increase is needed to support investments that will allow us to continue to discover new drugs and offer these advances to patients who need them,” spokeswoman Amy Rose said in a statement, noting in particular the COVID-19 vaccine. which the company developed with the German BioNTech SE.

He said its net prices, which do not include bonuses to pharmacy benefit managers and other discounts, have fallen in the last 3 years.

Sanofi, France, plans to raise the prices of several vaccines by 5% or less and will announce further price increases later in January, spokeswoman Ashleigh Koss said.

None of the company’s price increases will exceed the expected growth rate of U.S. health care spending of 5.1 percent, Koss said.

Political pressure

Reducing the prices of prescription drugs in the United States, which are among the highest in the world, was one of the focuses of U.S. President Donald Trump after making it a key promise of his 2016 campaign. of 2020 issued several executive orders aimed at reducing prices, but its effect could be limited by legal challenges and other issues.

A federal judge in December blocked a last-minute rule from the Trump administration aimed at lowering medication prices to be implemented in early 2021. It was challenged by pharmaceutical industry groups, including PhRMA, the nation’s leading pharmaceutical trading group.

President-elect Joe Biden has also pledged to cut drug costs and allow Medicare, a U.S. government health insurance program, to negotiate drug prices. It has the support of Congressional Democrats to pass this legislation, which the Congressional Budget Office has said could cost the industry more than $ 300 billion by 2029.

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