Drugmakers from Pfizer to GSK to hike prices on over 200 drugs

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Drugmakers from Pfizer to GSK to hike prices on over 200 drugs

Ratcheting up debates over an abrupt hike in medicines’ price in the United States ahead of a 2020 US presidential election, a slew of multinational drugmakers such as US-based Pfizer Inc., UK-based GlaxoSmithKline Plc.

alongside French Sanofi SA had been set to hike prices on over 200 prescription drugs in the United States from Wednesday (January 1st), the drugmakers alongside data from healthcare research firm 3 Axis Advisers, had revealed on Tuesday, the 31st of December 2019.

Aside from that, adding the median price hike would be by 5 per cent from January 1st, healthcare research firm, 3 Axis Advisers co-founder, Eric Pachman, was quoted saying late on Tuesday (December 31st) that none of the price hikes would reach a double-digit percentage figure, while half of the hikes would likely to be in between 4 per cent to 6 per cent.

Meanwhile, following the aforementioned drugmakers’ move to hike prices of more than 200 drugs in the United States, an abrupt rise in prescription drug prices would likely to be a blazing issue in the 2020 US Presidential election, while US President Donald Trump was sworn to take the office back in the 2016s with a prime mandate to bring down the costs of prescription drugs.