Big Pharma to raise US list prices of 500 drugs in January: Report

Enlarge (credit: Getty | Bill Diodato)

January is usually a big month for hiking the list prices of drugs in the US—and it looks like 2024 will be no different. Pharmaceutical companies plan to raise the US list prices of more than 500 prescription medications this month, and more are expected to be announced in the coming weeks. That's according to a report from Reuters, which is based on data from the health care research firm 3 Axis Advisors.

The high-profile drug makers with plans to increase prices include giants such as Pfizer, Sanofi, and Takeda.

This year's tally of 500 is in line with the past few years, with 452 list price increases as of January 1, 2023, and a high of 602 on January 1, 2021, according to data from 46brooklyn, a drug pricing nonprofit related to 3 Axis Advisors. Overall, drug makers raised the list prices of 1,425 drugs in 2023, down slightly from 1,460 in 2022.