Drug price hike update: Merck, Allergen, Novartis raise prices

Merck, Allergan and Novartis raised the list prices of more than 100 drugs, increasing the total number of drugs with price increases so far this year to 445, according to Endpoints News

The drugmakers follow Pfizer, GlaxoSmithKline and Sanofi, which raised prices on more than 200 drugs Jan. 1. Bristol-Myers Squibb, Gilead Sciences and Biogen increased prices on another 50 drugs later the same day, according to data from healthcare research firm 3 Axis Advisors. 

Most price increases have been below 10 percent, with the median being about 5 percent. 

Most drug price hikes take place during the first two weeks of the year, according to Endpoints News.

List price increases are not an accurate reflection of how consumers will be affected, as they don't take rebates or discounts into consideration. Both Novartis and Allergan said the net prices of the drugs with list price increases would be either flat or lower in 2020, according to Endpoints News. 

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