Some Drug Companies Raise Prices for 2020

Some drug manufacturers, including Bristol-Myers Squibb, Gilead, Pfizer, GlaxoSmithKline, Sanofi and Biogen have started the new year with higher prices on more than 250 drugs. Reuters reports on data analyzed by 3 Axis Advisors, a healthcare research firm, showing that nearly all of the increases were less than 10% and the median hike was about 5%.

In response to the news, Public Citizen issued a statement saying that “tweets and half-baked proposals from President Donald Trump are not stopping Big Pharma from price gouging consumers. If Trump was serious about lowering drug prices, he could do so with the stroke of a pen and authorize competition. Congressional lawmakers have proposed a slew of measures that would deliver meaningful relief, but Senate majority leader Mitch McConnell (R-KY) won’t bring them to a vote, and Trump has made it clear he would veto the most impactful legislation to be advanced out of the House (H.R. 3).”