Drugmakers including Pfizer, Sanofi and Takeda Pharmaceutical plan to raise prices in the United States on more than 500 unique drugs in early January.

Drugmakers including Pfizer, Sanofi and Takeda Pharmaceutical plan to raise prices in the United States on more than 500 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.

The expected price hikes come as the pharmaceutical industry gears up for the Biden Administration to publish significantly discounted prices for 10 high-cost drugs in September, and continues to contend with higher inflation and manufacturing costs

Under President Joe Biden’s Inflation Reduction Act (IRA), the government’s Medicare health program can negotiate prices directly for some drugs starting in 2026.

Worries are also growing about fresh disruption to supply chains from a prolonged Middle East conflict, with shippers forced to halt or reroute traffic from the Red Sea, the world’s main East-West trade route.

      • Flying Squid@lemmy.world
        4·
        11 months ago

        That’s good to hear. All of the drugs I’m currently on are generics. The brand name only ones have all been deemed unnecessary at this point. I’ve also gone from 7 pills in the morning and 5 at night to 3 pills and one supplement in the morning and 2 at night, which is pretty damn good for having a nerve disorder. I just worry that they will stop working and I will have to go back to an expensive name brand option.