For the Second Time This Year, Pfizer Hikes Drug Prices

The move comes even though some of the pharma company’s rivals have promised to raise prices only once a year.

The move comes even though some of the pharma company’s rivals have promised to raise prices only once a year.

The price for Pfizer’s lung-cancer treatment Xalkori, its blood-pressure pills Norvasc, and its pain capsules Lyrica will be going up, along with about 40 other of the company’s drugs, the Wall Street Journal reports. Pfizer, the world’s biggest drug company by sales, defends its actions by saying that it frequently sells its drugs at discount and, anyway, it is not responsible for what patients must pay in co-pays or out-of-pocket costs.

The company said in a statement: “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 WSJ reports that many of the increases “lift the list prices by 9.4% and by double-digit percentages for the year overall.”

Source: Wall Street Journal