According to Reuters, several pharmaceutical companies in the US, including Sanofi, Pfizer and GlaxoSmithKline (GSK), will increase prices on more than three hundred drugs for 2021.
3 Axis Advisors conducted data and found that the drug price increases have been kept at ten per cent of lower for 2021.
“Several pharmaceutical companies will increase prices on more than 300 drugs for 2021.“
While GSK increases their prices of Pediarix and Shingrix by seven per cent and eight-point-six per cent, Sanofi and Pfizer are planning to increase their drug prices up to five per cent. Pfizer will increase the costs of over sixty drugs by between nought-point-five per cent and five per cent.
Drug prices are increasing because companies are experiencing an ongoing impact of COVID-19 on their business.