Pfizer increased the price of 100 medications July 1 by an average of about 9 percent, although some drugs saw a 20 percent price increase. Genentech also increased the price of several drugs July 1, while Teva Pharmaceutical Industries raised prices on 14 drugs in June.
The price hikes follow President Trump’s May 31 promise that drugmakers would soon make “massive drops in prices.” He expressed his discontent about the recent price hikes on Twitter.
“Pfizer & others should be ashamed that they have raised drug prices for no reason,” he tweeted July 9. “We will respond!”
HHS Secretary Alex Azar also took to Twitter to weigh in on the price increases, hinting toward future action on drug prices.
“Those who increased prices will be remembered for creating a tipping point in US drug pricing policy,” he tweeted July 8. “Change is coming to drug pricing, whether painful or not for pharmaceutical companies.”
More articles on pharmacy:
Walgreens revamps pharmacist training after woman denied medicine: 7 things to know
Drug shortages are rising, FDA says
Pfizer hikes price of 100 drugs
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
