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.
Our best chance was when Obama had a supermajority and he decided to make it more expensive, not less.