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Pfizer Again Raises Drug Prices

By Jonathan D. Rockoff, Wall Street Journal on 7/2/2018

Pfizer Inc. PFE +0.33% raised the list prices for more than 40 of its prescription drugs this week, marking a second round of increases this year despite mounting public scrutiny.

The increases apply to widely used drugs including lung-cancer treatment Xalkori, Norvasc blood-pressure pills and Lyrica pain capsules, according to drug-pricing data from RELXPLC’s Elsevier information business. Many lift the list prices by 9.4% and by double-digit percentages for the year overall.

The moves, which were first reported by the Financial Times, separate Pfizer from several rivals that have pledged to lift list prices only once every 12 months and by less than 10% overall for the year, as they try to blunt criticism and avoid congressional action.

Pfizer, one of the world’s biggest drug companies by sales, said it commonly sells its products at a discount and isn’t responsible for how much patients must bear in copays or other out-of-pocket costs.

“The list price remains unchanged for the majority of our medicines. We are modifying prices for about 10% of our medicines, including some instances where we’re decreasing the price,” the company said in a statement.