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Drugmakers to raise US prices on over 250 medicines starting Jan. 1 (www.reuters.com)

submitted 4 days ago by MicroWave@lemm.ee to c/health@lemmy.world

8 comments fedilink hide all child comments

Summary

Drugmakers plan to raise U.S. prices on over 250 branded medicines starting Jan. 1, 2025, including Pfizer's Paxlovid and Bristol Myers Squibb's cancer therapies.

Most hikes are under 10%, with a median increase of 4.5%, consistent with recent years. Companies like Merck are cutting prices on select drugs.

Critics highlight high U.S. drug costs, as new drugs launched in 2023 were priced 35% higher than in 2022.

Pfizer cited inflation and R&D costs for its adjustments, while Bristol Myers defended high prices for transformative cancer treatments. Additional price hikes are expected in January.

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[–] TommySoda@lemmy.world 34 points 4 days ago

It's funny how with inflation everything gets more expensive except for employees. Those guys always seem to stay pretty cheap.

[–] WHARRGARBL@lemmy.world 22 points 4 days ago (1 children)

Pfizer raised prices of the most drugs on the latest list - more than 60 drugs.

CEO Albert Bourla, who opposes government regulation of pharmaceutical costs, lives in Scarsdale, NY - in case anyone would like to write a letter.

[–] PP_BOY_@lemmy.world 9 points 4 days ago

My mind is instantly going back to all the Redditors who got Pfizer, Moderna, etc. Tattoos at the start of the pandemic because they thought multibillion Big Pharma giants were the good guys

[–] peoplebeproblems@midwest.social 14 points 3 days ago (1 children)

Pfizer cited inflation and R&D costs

Woah woah woah hold on. Aren't most of those R&D costs covered by a government grant? You can't use that as an out.

[–] Frozengyro@lemmy.world 9 points 3 days ago

You can. You just can't use it, and also be telling the truth.

[–] Fiivemacs@lemmy.ca 14 points 4 days ago

Yo Luigi...

[–] shalafi@lemmy.world 6 points 4 days ago (1 children)

I'd be OK with rising drug prices, inflation and R&D are real costs. But fuck 'em when they're blowing their wad on advertising.

[–] Mickey7@lemmy.world 1 points 2 days ago

Their advertising dollars are not ads aimed at the public. They are simply how they influence media sources to never do any news stories that investigate how they are screwing us