Pfizer to raise prices on 41 prescription drugs next year

[left-of-center2012]

Pfizer will raise prices on 41 of its prescription drugs in January after initially putting off those plans this summer amid pressure from President Trump.

The drug giant will increase the list price of about 10 percent of its drugs Jan. 15, the company announced Friday. Most of the increases will be 5 percent, though Pfizer will raise three drugs' list prices by 3 percent and one drug's by 9 percent.

List prices are the advertised price of a drug, not necessarily the price insurers pay after discounts, known as rebates.

"We believe the best means to address affordability of medicines is to reduce the growing out-of-pocket costs that consumers are facing due to high deductibles and co-insurance, and ensure that patients receive the benefit of rebates at the pharmacy counter," Pfizer's outgoing CEO Ian Read said in a statement.

https://www.cnbc.com/2018/11/16/pfizer-to-raise-some-drug-prices-despite-pressure-from-trump.html

[octoberlib]

1. He told them to wait until after the midterms.