Pfizer Hikes Prices on More Than 100 Existing Prescription Drugs
Since the beginning of January, pharmaceutical company Pfizer has raised prices on more than 100 of its prescription drugs, according to Reuters, with some prices going up more than 20 percent. It is the latest in a long series of cost hikes in the pharmaceutical industry that add up to an unsustainable financial burden for patients, employers and public programs.
In response, John Rother, president of the National Coalition on Health Care and leader of the Campaign for Sustainable Rx Pricing, issued the following statement:
“Again and again, drug companies like Pfizer raise prices of prescriptions that have already been on the market for years which hurts patients trying to make ends meet and public programs dealing with difficult budgets. These increases, compounded year after year, are simply unsustainable. It’s not about innovation or research; it’s price gouging.”
Pfizer has not lowered the price of any prescription drugs for 2016.