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Mid-year drug price hikes are here

Drug capsules in production.
Drug capsules in production. Photo: Gerard Julien/AFP via Getty Images

Many pharmaceutical companies this week trotted out fresh price increases on existing products, a common mid-year occurrence that has not abated despite the Trump administration’s assertions that prices are coming down.

Why it matters: As we’ve reported over and over again, the pharmaceutical industry’s practices have not changed one iota even with the administration’s pricing blueprint, and drug companies still have every incentive to raise prices.

  • Pfizer raised list prices on more than 100 drugs as of July 1, David Crow of the Financial Times scooped.
  • Seattle Genetics and Sanofi also instituted mid-year hikes on some products, Meg Tirrell of CNBC reported.
  • Several other companies followed suit with large and small increases, others in the industry tell Axios.

Go deeper: The drug pricing war that leaves patients caught in the middle