New data released this week shows more big price hikes by Big Pharma. According to analysis by AnalySource, the first week of July saw 59 manufacturers raise prices on 105 brands, with 9 brands having raised prices by 10%.
The report, which coincides with the pharmaceutical industry’s traditional biannual price increases, found that 847 brands have increased prices in 2023. This includes a 30% price increase for Emflaza, the only FDA-approved product to treat Duchenne Muscular Dystrophy; a 62% increase for Isturisa, which is used to treat Cushing’s Disease, and a 478% increase for Entadfi, used for the treatment of benign prostatic hyperplasia.
These price hikes are in addition to Big Pharma’s increased prices on at least 587 brand name drugs over the first 2 weeks of the year. As part of the January 2023 price increases, 16 brand name drug companies imposed price hikes higher than 10%.
Notable Big Pharma price hikes in 2023 include:
- Abbvie hiked prices on Humira and Skyrizi, two of their top-selling drugs, by 8%.
- Pfizer increased prices on Celontin, Synarel, Xeljanz, and Ibrance.
- GlaxoSmithKline increased the price of its shingles vaccine Shingrix.
- Bausch Health hiked the price of Siliq by nearly 10%.
Everyone should be able to get the medications they need at a cost they can afford. But drug prices continue to spiral out of control, and hardworking Americans and their families feel the consequences every day. It’s time to hold Big Pharma accountable for the prices that they, and they alone, set and increase year after year.
Click here to read more about Big Pharma’s July 2023 price hikes.
Click here to read more about Big Pharma’s January 2023 price hikes.