Richard Gonzalez, the CEO of AbbVie, said the company will not raise drug prices past the single digits in 2017, reports Reuters.
The North Chicago, Ill.-based drugmaker will raise prices once a year, keeping the increases under 10 percent, Mr. Gonzalez said Wednesday at the JP Morgan Healthcare Conference in San Francisco.
Despite single-digit price increases, Mr. Gonzalez expects global sales of Humira — AbbVie's best selling arthritis drug — to surpass $18 billion by 2020. The drug's sales peaked at about $14 billion in 2015.
With the announcement, AbbVie joins the ranks of Allergan and Novo Nordisk, which have both promised customers limits on price hikes.
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