BRIEF—Pfizer says it will hike US prices of 41 meds

Saying it is “in the spirit of providing greater transparency for patients,” US pharma giant Pfizer announced on Friday that it plans to maintain the current list prices for about 90% of its medicines.

However, effective January 15, 2019, Pfizer increase the list price of 10% of its entire drug portfolio – 41 medicines only.

The increase in list price to this subset of the company’s portfolio will be 5%.

The only exceptions are three products that have a 3% increase and one product that it is increasing 9% due to the completion of two extensive development programs that have led to the recent Food and Drug Administration approvals of two new medical uses that meet unmet patient needs.

Pfizer’s outgoing chief executive Ian Read, who will be replaced as CEO by Albert Bourla at the start of 2019, commented: "we believe the best means to address affordability of medicines is to reduce the growing out-of-pocket costs that consumers are facing due to high deductibles and co-insurance, and ensure that patients receive the benefit of rebates at the pharmacy counter."

Back in the summer, US President Donald Trump slammed prices increases by many drugmakers, including Pfizer, who then reversed the hikes it had announced.