The Rheumatologist
  • Connect with us:
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
  • Feed
  • Home
  • Conditions
    • Rheumatoid Arthritis
    • SLE (Lupus)
    • Crystal Arthritis
    • Spondyloarthritis
    • Osteoarthritis
    • Soft Tissue Pain
    • Scleroderma
    • Vasculitis
    • Systemic Inflammatory Syndromes
    • Guidelines
  • Drug Updates
    • Biologics & Biosimilars
    • DMARDs & Immunosuppressives
    • Topical Drugs
    • Analgesics
    • Safety
    • Pharma Co. News
  • Professional Topics
    • Ethics
    • Legal
    • Legislation & Advocacy
    • Career Development
      • Certification
      • Education & Training
    • Awards
    • Profiles
    • President’s Perspective
    • Rheuminations
  • Practice Management
    • Billing/Coding
    • Quality Assurance/Improvement
    • Workforce
    • Facility
    • Patient Perspective
  • Technology
    • Electronic Health Records
    • Apps
    • Information Technology
  • Resources
    • Issue Archives
    • Events
    • Multimedia
      • Audio
      • Video
    • From the College
    • American College of Rheumatology
    • Rheumatology Research Foundation
    • Arthritis & Rheumatology
    • Arthritis Care & Research
    • Treatment Guidelines
    • Research Reviews
    • Annual Meeting
      • Abstracts
      • Meeting Reports
    • Rheumatology Image Bank
    • ACR ExamRheum
  • About Us
    • Mission/Vision
    • Meet the Authors
    • Meet the Editors
    • Contribute to The Rheumatologist
    • Subscription
    • Contact
  • Advertise
  • Search
You are here: Home / Articles / Pfizer Hikes U.S. Prices for More Than 100 Drugs on Jan. 1

Pfizer Hikes U.S. Prices for More Than 100 Drugs on Jan. 1

January 12, 2016 • By Deena Beasley

  • Tweet
  • Email
Print-Friendly Version / Save PDF

(Reuters)—Pfizer Inc., which plans a $160-billion merger with Ireland-based Allergan Plc to slash its U.S. tax bill, on Jan. 1 raised U.S. prices for more than 100 of its drugs, some by as much as 20%, according to statistics compiled by global information services company Wolters Kluwer.

You Might Also Like
  • Pfizer Hikes U.S. Prices of 91 Drugs by Average 20% in 2017
  • Pfizer Plans to Increase U.S. Drug Prices in January
  • Pfizer’s Second Biosimilar of J&J’s Remicade Wins U.S. FDA Approval

Pfizer confirmed a 9.4% increase for heavily advertised pain drug Lyrica (pregabalin), which generated $2.3 billion in 2014 U.S. sales; a 12.9% increase for erectile dysfunction drug Viagra (sildenafil citrate), which had 2014 U.S. sales of $1.1 billion; and a 5% increase for Ibrance (palbociclib), a novel breast cancer drug launched last year at a list price of $9,850 per month, or $118,200 per year.

ad goes here:advert-1
ADVERTISEMENT
SCROLL TO CONTINUE

Company spokesman Steven Danehy could not immediately confirm the remaining price increases, which were compiled by a unit of Wolters Kluwer Health and published in a research note by UBS Securities.

U.S. lawmakers, and presidential candidates, have in recent months stepped up criticism of U.S. drug prices trends, driven in part by eye-popping price hikes from companies with recently acquired generic drugs.

ad goes here:advert-2
ADVERTISEMENT
SCROLL TO CONTINUE

“Medicines are among the most effective and efficient use of private and public health care dollars,” Pfizer says in an emailed statement.

“It is important to note that the list price does not reflect the considerable discounts offered to the government, managed care organizations, and commercial health plans and certain programs that restrict any increases above the inflation rate.”

UBS said Pfizer increased prices by 20% for anticonvulsant Dilantin (phenytoin), hormone therapy Menest (esterified estrogens), angina drug Nitrostat (nitroglycerin), Tykosyn (dofetilide) for irregular heartbeat, and antibiotic Tygacil (tigecycline).

ad goes here:advert-3
ADVERTISEMENT
SCROLL TO CONTINUE

The analyst report said U.S. prices were raised on a total of 105 Pfizer drugs. No price reductions were reported.

Pfizer is by no means the only drugmaker to raise prices. Research firm Truveris found that U.S. prescription drug prices rose 10.9% in 2014, including a 15% increase for brand-name products.

The planned Pfizer/Allergan deal, which would create the world’s largest drugmaker and shift Pfizer’s headquarters to Ireland, would also be the biggest ever instance of a U.S. company re-incorporating overseas to lower its taxes. U.S. President Barack Obama has called such inversion deals unpatriotic and has tried to crack down on the practice.

Democratic presidential front-runner Hillary Clinton pledged to propose measures to prevent such deals. The merger was also slammed by her rival Senator Bernie Sanders, as well as by Republican presidential candidate Donald Trump.

Pfizer, which will report its 2015 earnings Feb. 2, posted biopharmaceutical revenue of $45.7 billion in 2014, including U.S. sales of $17.2 billion.

Pages: 1 2 | Single Page

Filed Under: Drug Updates, Pharma Co. News Tagged With: cost, Drugs, Pfizer Inc.

You Might Also Like:
  • Pfizer Hikes U.S. Prices of 91 Drugs by Average 20% in 2017
  • Pfizer Plans to Increase U.S. Drug Prices in January
  • Pfizer’s Second Biosimilar of J&J’s Remicade Wins U.S. FDA Approval
  • Pfizer Files Suit Against J and J over Remicade Contracts

Rheumatology Research Foundation

The Foundation is the largest private funding source for rheumatology research and training in the U.S.

Learn more »

ACR/ARP Annual Meeting

Don’t miss rheumatology’s premier scientific meeting for anyone involved in research or the delivery of rheumatologic care or services.

Visit the ACR Annual Meeting site »

Simple Tasks

Learn more about the ACR’s public awareness campaign and how you can get involved. Help increase visibility of rheumatic diseases and decrease the number of people left untreated.

Visit the Simple Tasks site »

The Rheumatologist newsmagazine reports on issues and trends in the management and treatment of rheumatic diseases. The Rheumatologist reaches 11,500 rheumatologists, internists, orthopedic surgeons, nurse practitioners, physician assistants, nurses, and other healthcare professionals who practice, research, or teach in the field of rheumatology.

About Us / Contact Us / Advertise / Privacy Policy / Terms of Use

  • Connect with us:
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
  • Feed

Copyright © 2006–2019 American College of Rheumatology. All rights reserved.

ISSN 1931-3268 (print)
ISSN 1931-3209 (online)

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
This site uses cookies: Find out more.