As is often the case, many pharma companies started the new year by announcing price increases for several major drugs.
Allergan announced one of the most wide-reaching plans to boost prices, which will impact more than 50 drugs with an average increase of 3.8 percent. The company said that the increases will help offset higher rebate and discounts to payers.
AbbVie will also increase the price of its blockbuster med, Humira, by 6.2 percent. Analysts reported that other companies announcing price increases include Eli Lilly, Bristol-Myers Squibb and Biogen.
The increases come as lawmakers continue to debate strategies to lower drug prices, from mandating list prices in TV ads to boosting generics competition and even creating a government-run generics manufacturing company.
Despite the public rhetoric, pharma companies have continued to announce increases — although the overall number is reportedly down by about a third from the same time last year.
Read the full Reuters report.