• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Report finds Pfizer has hiked prices of nearly 100 drugs this year

June 5, 2017 By Sarah Faulkner

PfizerAs other major pharma players like Merck (NYSE:MRK) and Johnson & Johnson (NYSE:JNJ) vow to limit annual price hikes, a report by the Financial Times found that Pfizer (NYSE:PFE) has raised prices on 91 drugs by an average of 21% in 2017.

The most recent price hike at the start of June was the company’s 2nd for the year – they raised U.S. prices in January as well.

Pfizer’s chief executive, Ian Read, has openly disagreed with other CEOs about how the pharmaceutical industry should respond to calls to limit price hikes.

“We feel we appropriately price our products to the value in the marketplace, and that’s essential for free market systems where you need to recover and direct resources to further innovation,” he told Reuters in January.

The industry has dealt with a number of pricing scandals in the past year, including Mylan‘s (NSDQ:MYL) EpiPen and Marathon Pharmaceutical’s $89,000 Duchenne muscular dystrophy drug which it later sold to PTC Therapeutics (NSDQ:PTCT).

President Donald Trump has called on the industry to lower prices for consumers and newly-confirmed FDA commish Dr. Scott Gottlieb has signaled that he is interested in bringing more generic products to the market to create competition and bring down prices.

But any action on Capitol Hill will have to overcome the pharmaceutical lobby, arguably 1 of the more powerful trade groups in Washington.

In May, The Hill reported that the president’s administration is pursuing actions it can take with and without Congress to combat the industry’s high drug prices.

Filed Under: Featured, Pharmaceuticals, Wall Street Beat Tagged With: johnsonandjohnson, Marathon Pharmaceuticals, Merck, Mylan, Pfizer Inc.

IN CASE YOU MISSED IT

  • Senseonics closes public offering, private placement with Abbott
  • Embecta eyes shift from insulin delivery to broader medical supplies focus
  • Medtronic earns expanded CE mark for Prevail paclitaxel-coated balloon
  • Sequel Med Tech to pair automated insulin delivery system with Abbott’s future dual glucose-ketone sensor
  • Medtronic to separate Diabetes business unit

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS