Merck, Amgen adopt double-digit price hikes in test to Big Pharma’s unofficial annual limits: analyst
August 31, 2021
For years, top pharma companies responded to pricing criticism by pledging to limit their increases. After Allergan CEO Brent Saunders proposed keeping annual price hikes under 10% amid sharp drug pricing scrutiny, many companies followed suit.
But now it appears some big players are starting to test the limits of pharma’s social contract, Bernstein analyst Ronny Gal pointed out in a note to clients on Monday.
For one, California-based Amgen recently raised the list price for its Celgene-acquired psoriasis med Otezla by 2.4% in August, bringing its total increase to 10% over the last year. For a big-selling immunology drug, the number is “far above the 5% trend the industry accepted” during former president Donald Trump’s term, Gal wrote.
Read the source article at Pharma News
2021-08-31 16:36:02