Law Do's and Don'ts
Find a good-standing attorney
handelonthelaw.com
Attorney Log In

Pfizer Raises Prices of 105 Drugs In 2016

HandelontheLaw.com Staff Writer

Thursday, April 07, 2016



Pfizer Raises Prices of 105 Drugs In 2016
Pfizer

Pfizer, Inc. recently announced its planned 2016 largest-to-date merger in the healthcare industry with Allergan PLC, allowing Pfizer to shift its headquarters from the United States to Ireland in a tax inversion maneuver that will lower its corporate tax rate from the 35% to 12 ½%. The anticipated merger became big news in October 2015, as shown in this YouTube video: https://www.youtube.com/watch?v=eSN38Hc3JoQ

Those tax benefits are apparently insufficient, as Pfizer also raised prices for 105 of its drugs in the United States, according to Wolters Kluwer, a global company providing information, software, and services to professionals in law, tax, finance and healthcare. Wolters Kluwer found that Pfizer hiked some drug prices by as much as 20%. The company announced no price decreases; Surprise!

Foremost among the affected drugs and their prices increases are:
- Viagra, an erectile dysfunction drug, by 12.9%;
- Lyrica, a pain drug, by 9.4%;
- Ibrance, a breast cancer drug, by 5% (on top of its prior list price of $9,850/month);
- Dilantin, an anticonvulsant drug, by 20%;
- Menest, a hormone therapy drug, by 20%;
- Nitrostat, an angina drug, by 20%;
- Tygacil, an antibiotic, by 20%;
- Tykosyn, a drug for treating irregular heartbeat, by 20%.

While Pfizer is one of the most notable drug companies raising its drug prices, it is by no means the only company. According to Truveris, Inc., a research company addressing healthcare industry issues, prescription drug prices rose 10.9% in 2014.

For its part, Pfizer states, “It is important to note that the list price does not reflect the considerable discounts offered to the government, managed care organizations, and commercial health plans and certain programs that restrict any increases above the inflation rate.”

Meanwhile, the dramatic hikes in drug prices have caught the attention of American legislators and presidential candidates, who at least speak of combatting the problem. The question is whether they intend meaningful action to control drug prices.


By Kathy Catanzarite


Source: Kathy Catanzarite - Handelonthelaw.com Writer

Note from HandelontheLaw.com: This article is to be used as an educational guide only and should not be interpreted as a legal consultation. Readers of this article are advised to seek an attorney if a legal consultation is needed. Laws may vary by state and are subject to change, thus the accuracy of this information can not be guaranteed. Readers act on this information solely at their own risk. Neither the author, handelonthelaw.com, or any of its affiliates shall have any liability stemming from this article.





FIND A LAWYER
LOCATION Zipcode Map

e.g. 91324 or Los Angeles, CA
AREA OF LAW Law Category Help
 Please select one of the following... 
CONTINUE


Neurocoglab.com 2