The Inevitable Is Coming: Price Increases, Starting With Pfizer
Drug makers are planning for annual price increases, but with the industry in President Trump's crosshairs it remains to be seen if 2019 price hikes will be more modest than in the past. Pfizer confirmed plans to raise prices, but only on 10% of its portfolio.
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Pfizer forecast flat US drug prices in 2019 and downplayed large M&A as a way to assuage near-term growth concerns, while investors brace for a challenging period cycling through the loss of Lyrica.
Drug makers were optimistic going into 2018 about the political climate and drug pricing environment, but the outlook is more tenuous heading into 2019. Now is the time when industry raises prices on mature, marketed drugs and it's unclear how those hikes may be tempered or what the backlash might be.
The Trump Administration remains convinced that rebates lead to high list prices and that reform of the system is needed, US HHS Deputy Secretary Eric Hargan emphasizes.