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By Michael Erman
NEW YORK, Jan 1 (Reuters) - Drugmakers including
Bristol-Myers Squibb Co, Gilead Sciences Inc,
and Biogen Inc hiked U.S. list prices on more than 50
drugs on Wednesday, bringing total New Year's Day drug price
increases to more than 250, according to data analyzed by
healthcare research firm 3 Axis Advisors.
Reuters reported on Tuesday that drugmakers including Pfizer
Inc, GlaxoSmithKline PLC and Sanofi SA
were planning to increase prices on more than 200 drugs in the
United States on Jan. 1.
Nearly all of the price increases are below 10% and the
median price increase is around 5%, according to 3 Axis.
More early year price increases could still be announced.
Soaring U.S. prescription drug prices are expected to again
be a central issue in the presidential election. President
Donald Trump, who made bringing them down a core pledge of his
2016 campaign, is running for re-election in 2020.
Many branded drugmakers have pledged to keep their U.S. list
price increases below 10% a year, under pressure from
politicians and patients.
The United States, which leaves drug pricing to market
competition, has higher prices than in other countries where
governments directly or indirectly control the costs, making it
the world's most lucrative market for manufacturers.
Drugmakers often negotiate rebates on their list prices in
exchange for favorable treatment from healthcare payers. As a
result, health insurers and patients rarely pay the full list
price of a drug.
Bristol-Myers said in a statement it will not raise list
prices on its drugs by more than 6% this year.
The drugmaker raised the price on 10 drugs on Wednesday,
including 1.5% price hikes on cancer immunotherapies Opdivo and
Yervoy and a 6% increase on its blood thinner Eliquis, all of
which bring in billions of dollars in revenue annually.
It also raised the price on Celgene's flagship multiple
myeloma drug, Revlimid, 6%. Bristol acquired rival Celgene in a
$74 billion deal last year.
Gilead raised prices on more than 15 drugs including HIV
treatments Biktarvy and Truvada less than 5%, according to 3
Axis.
Biogen price increases included a 6% price hike on multiple
sclerosis treatment Tecfidera, according to 3 Axis.
Gilead and Biogen could not be immediately reached for
comment.
3 Axis advises pharmacy industry groups on identifying
inefficiencies in the U.S. drug supply chain and has provided
consulting work to hedge fund billionaire John Arnold, a
prominent critic of high drug prices.
(Reporting by Michael Erman
Editing by Nick Zieminski)
