Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Pharmaceutical manufacturers have raised the sticker prices on hundreds of drugs at the start of 2020, with most of the increases coming under 10%.

The big picture: It may be a new year, but the same drugs are once again subject to the same industry practices.

Between the lines: Political pressure has forced some drugmakers to consider fewer price hikes on their medicines or to keep the increases in single-digit percentages.

  • Raising prices doesn't necessarily mean net drug spending (after rebates and other discounts given to health insurers) goes up — but it usually does, and many drug price increases aren't justifiable.
  • The price increases are salt in the wound following Congress' failure to pass meaningful drug price legislation in 2019, and are already being used to make the political case for action this year.

By the numbers: As of Friday, drug companies had increased the prices of 445 products by a median of 5%, according to an analysis by 3 Axis Advisors. More hikes are expected throughout January.

  • Pfizer increased the prices of 58 drugs, the most of any company by far. Novartis, Allergan and GlaxoSmithKline each had counts in the twenties.

What we're seeing: Some of the biggest pharmaceutical companies are bumping up prices on popular brand-name drugs, according to pharmaceutical industry analyses from several investment firms and consulting firm 3 Axis Advisors.

  • AbbVie: ⬆️ 7.4% on Humira, the world's top-selling drug that is facing major competition and lower prices everywhere — except the U.S.
  • Biogen: ⬆️ 6% on Tecfidera, a multiple sclerosis drug that is facing a major patent lawsuit.
  • Bristol-Myers Squibb: ⬆️ 6% on blood thinner Eliquis and ⬆️ 1.5% on Opdivo, an outpatient cancer drug that usually doesn't have rebates.
  • Celgene: ⬆️ 6% on cancer treatment Revlimid, which is now owned by Bristol-Myers Squibb.
  • Gilead: ⬆️ 4.8% on a host of medicines, including its main HIV drugs (Truvada, Descovy and Biktarvy).
  • Merck: ⬆️ 1.5% on Keytruda, its blockbuster cancer infusion drug that competes with Opdivo and similarly doesn't usually give back rebates.
  • Novartis: ⬆️ 7% on Cosentyx, a major psoriasis treatment.
  • Pfizer: ⬆️ 5% on breast cancer pill Ibrance and ⬆️ 7.3% on Prevnar, a vaccine that is the company's best-selling drug.
  • Purdue Pharma: ⬆️ 5% on its OxyContin painkiller, all while the company sits in bankruptcy court and the Sackler owners dangle billions in public settlement funds.

Yes, but: List prices don't reflect discounts and rebates, which reduce net prices. List prices do, however, affect people who have high deductibles or are uninsured.

Looking ahead: Amgen, Eli Lilly and other companies haven't released any drug price increases yet, usually waiting until a few days or weeks after the start of the new year.

The bottom line: Congress these days is much better at doing nothing than passing legislation, and its inertia is only going to be made worse by the November election. Until something changes, expect increases to happen again.

Go deeper: Drug makers still raising prices, but seeking fewer hikes

Go deeper

House passes sweeping election and anti-corruption bill

Photo: Win McNamee via Getty Images

The House voted 220-210Wednesday to pass Democrats' expansive election and anti-corruption bill.

Why it matters: Expanding voting access has been a top priority for Democrats for years, but the House passage of the For the People Act (H.R. 1) comes as states across the country consider legislation to rollback voting access in the aftermath of former President Trump's loss.

Updated 3 hours ago - Politics & Policy

House passes George Floyd Justice in Policing Act

Photo: Stephen Maturen via Getty Images

The House voted 220 to 212 on Wednesday evening to pass a policing bill named for George Floyd, the Black man whose death in Minneapolis last year led to nationwide protests against police brutality and racial injustice.

Why it matters: The legislation overhauls qualified immunity for police officers, bans chokeholds at the federal level, prohibits no-knock warrants in federal drug cases and outlaws racial profiling.

5 hours ago - Politics & Policy

Senate Republicans plan to exact pain before COVID relief vote

Sen. Ron Johnson. Photo: Stefani Reynolds/Bloomberg via Getty Images

Republicans are demanding a full, 600-page bill reading — and painful, multi-hour "vote-a-rama" — as Democrats forge ahead with their plan to pass President Biden's $1.9 trillion COVID-19 relief package.

Why it matters: The procedural war is aimed at forcing Democrats to defend several parts the GOP considers unnecessary and partisan. While the process won't substantially impact the final version of the mammoth bill, it'll provide plenty of ammunition for future campaign messaging.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!