NEW YORK (Reuters) – Drugs included Bristol-Myers Squibb Co. BMY.N, Gilead Sciences Inc. GILD.Oand Biogen Inc. BIIB.O on Wednesday it raised U.S. list prices by more than 50 drugs, bringing the total price of drugs on New Year’s Day to more than 250, according to data analyzed by health research firm 3 Axis Advisors.
Reuters reported Tuesday that drug manufacturers, including Pfizer Inc. PFE.N, GlaxoSmithKline PLC GSK.L and Sanofi SA SASY.PA they planned to raise the prices of more than 200 drugs in the United States on January 1st.
Almost all price increases are below 10% and the average price increase is around 5%, according to 3 Axis.
Even more price increases could be announced earlier this year.
U.S. prescription drug prices are expected to be a central issue in the presidential election. President Donald Trump, who dropped them in a key promise of his 2016 campaign, is running for re-election in 2021.
Many brand-name drug manufacturers have pledged to keep list price increases in the United States below 10% annually, under pressure from politicians and patients.
The United States, which leaves the price of drugs in the market competition, has higher prices than in other countries where governments directly or indirectly control costs, making it the most lucrative market in the world for manufacturers.
Pharmacists often negotiate reductions in list prices in exchange for favorable treatment by health care providers. As a result, health insurers and patients rarely pay the full list price of a drug.
Bristol-Myers said in a statement that it will not increase list prices for its drugs by more than 6% this year.
The pharmacist raised the price of 10 drugs on Wednesday, including 1.5% increases in Opdivo and Yervoy cancer immunotherapies and a 6% increase in its Eliquis blood thinner, with annual revenue of thousands of millions of dollars.
It also increased the price of Celgene’s flagship drug for multiple myeloma, Revlimid, by 6%. Bristol acquired rival Celgene in a $ 74 billion deal last year.
Gilead raised the prices of more than 15 drugs, including Biktarvy and Truvada HIV treatments, by less than 5%, according to 3 Axis.
Biogen price increases included a 6% rise in Tecfidera multiple sclerosis treatment, according to 3 Axis.
Gilead and Biogen could not be reached for comment immediately.
3 Axis advises pharmaceutical industry groups on identifying inefficiencies in the drug supply chain in the United States and has provided advice to billionaire hedge fund John Arnold, a leading critic of high drug prices.
Reports by Michael Erman; Edited by Nick Zieminski