The Swiss headquarters of Novartis. Photo: Sebastien Bozon/AFP/Getty Images
Nearly 30 drugmakers have taken steps to raise the price of their drugs in January, Reuters reports.
The big picture: The industry had said it was halting price increases under pressure from the Trump administration.
For example: Novartis plans to raise prices on more than 100 indications of over 30 different drugs. These include a multiple sclerosis drug, an arthritis treatment and a leukemia treatment.
- A spokesperson said that the company will be raising list prices on 14% of the drugs it sells in the U.S., with an average list price increase of 4.7%. But rebates and discounts will result in a 5% net price decrease across the company's U.S. portfolio.
Our thought bubble: This isn't surprising. At this point, no one should think that drug companies are going to voluntarily stop raising list prices.
Go deeper: The drug pricing maze