The 2022 new calendar is less than a week away, and major pharmaceutical companies have quickly implemented price increases on more than 400 drugs
According to research firm 46brooklyn, prices for 460 different drugs have risen in January this year
The prescription drug price comparison platform GoodRX also reported that major drugmakers have increased the prices of 434 brand-name drugs by an average of 5.
2%, and the three representative companies with larger increases are Pfizer, GlaxoSmithKline and Tiexi.
Pfizer's price hike was the largest of any company, raising the price tags of nearly 100 drugs, ranging from a 0.
5% rise in insomnia drug Halcion to a 16.
8% rise in immunity drug Solu-Cortef
At the same time, Pfizer also increased the cost of its pneumococcal injections Prevnar 13 and Prevnar 20 by 6.
5% and 6.
In addition, the company has hiked the prices of other drugs by about 10%, including the antibiotic Bicillin CR, the chemotherapy Camptosar, the estrogen replacement therapy Depo-Estradiol and the anticoagulant Fragmin
A Pfizer spokesperson said that modest increases in drug prices are necessary to support research and development investments that allow Pfizer to continue discovering new medicines and bring those breakthroughs to patients who need them
GlaxoSmithKline and Teva each raised prices on more than 30 products
According to data from GoodRx, generic drug giant Teva's price increase of more than 20 drugs this time is much higher than the industry average, with an increase of as much as 9.
GlaxoSmithKline also raised drug prices by anywhere from 2% to 7%
French drugmaker Sanofi raised list prices on 13 drugs, ranging from a 2.
4% increase in the diphtheria and tetanus combination vaccine Pentacel to a 5.
2% increase in the meningococcal vaccines Menactra and Menquadfi and TyphimVi, which protects against typhoid fever
Meanwhile, Gilead also raised prices on 11 drugs by 5.
A spokesperson for the company noted that while the list price has risen slightly, Gilead will, through rebates and other discount programs, actually expect the net cost of the drug to continue to decline
Of the more than 400 drugs that saw price increases, the biggest increase was Pfizer's Solu-Cortef, which increased its price by a staggering 16.
8%, followed by Exeltis contraceptive Tyblume, whose price rose 15.
Leadiant Biosciences' cancer drug Matulane rose 15% on Jan.
1, along with Collegium Pharmaceutical's painkillers Nucynta and NucyntaEr
It is worth noting that Novartis only increased the prices of Simbrinza, Signifor and SigniforLar by 5.
3%, 5% and 5%, respectively, which is basically the same as the current industry average
Piper Sandler analysts said in a recent report that while price increases for biopharmaceuticals "appear to be more aggressive" in the New Year's week than in past years, it could also mean "a relatively modest increase in mid-to-late 2022.
" The reason for this is that pharmaceutical companies mostly tend to increase drug prices at the beginning of January, so more drug price increases may be observed at the beginning of the year, and further price increases in the drug market are usually in the middle of the year.
Judging from the preliminary analysis of data in 2022, so far, the average data on drug price increases in January 2022 is still lower than the 589 drug price increases reported by GoodRx in early 2021, with an average increase of 4.
The data for the first week of the new year in 2022 is closer to 2020, when 463 drug prices rose before January 3, so analysts expect the number and increases in January's drug rises may continue over time.
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