Responding to a report that BigPharma will hike prices on over 350 drugs next week, actdottv said: 'Why? Because they can. Big Pharma does not care about us.'
Global pharmaceutical giants plan to hike U.S. prices for hundreds of drugs next month in anticipation of the Biden administration's Inflation Reduction Act, which will allow Medicare to negotiate the cost of certain drugs starting in 2026, an analysis published Friday revealed., said that Big Pharma corporations including Pfizer, AstraZeneca PLC, and Sanofi SA are set to raise the list prices—which do not include any rebates—on over 350 drugs early in January.
The median drug price increase was 4.9% last year, while the average increase was 6.4%, according to 46brooklyn. Both figures are lower than inflation rates in the United States. Drugmakers largely have kept increases at 10% or below—an industry practice followed by many big drugmakers since they came under fire for too many price hikes in the middle of the last decade.
The new analysis came as drugmakers brace for implementation of the Inflation Reduction Act , which contains several provisions to lower prescription drug costs for Medicare beneficiaries and to reduce the amount spent by the federal government on medications.— act.tv
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