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(RTTNews) – Pfizer (PFE) announced plans to raise prices for 41 drugs in January, a few months after the company agreed to postpone the increases under pressure from President Donald Trump.
The company announced its intention to maintain current prices for approximately 90% of its drugs and to increase, as of January 15, 2019, the posted price of 10% of its entire drug portfolio. or 41 drugs. The increase in the list price for this subset of the company's portfolio will be 5%. The only exceptions are three products that have an increase of 3% and a product that increases by 9% due to the completion of two extensive development programs that led to the recent FDA approval of two new medical uses that meet the unmet needs of patients.
"We believe that the best way to reduce the cost of drugs is to reduce the rising costs consumers face as a result of high deductibles and co-insurance, and to ensure that patients benefit from discounts at the counter. pharmacy, "said Ian Read, Pfizer's current President and CEO.
The company stated that it expects catalog price increases to be offset by
rebates and rebates to insurance companies and pharmaceutical benefits managers, and the net effect on revenue growth in the United States in 2019 is expected to be nil. Given the higher discounts and rebates, the company expects the health system to share these benefits with patients to avoid higher costs for their medications. In 2018, the net impact of higher prices on revenue growth is expected to be 1% negative in the United States compared to 2017.
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