Jul 3, 2018

Mid-year drug price hikes are here

Bob Herman

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

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Axios

World coronavirus updates: Total cases surge to over 700,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

There are now than more than 700,000 confirmed cases of the coronavirus around the world, according to data from Johns Hopkins. The virus has now killed more than 32,000 people — with Italy alone reporting over 10,000 deaths.

The big picture: Governments around the world have stepped up public health and economic measures to stop the spread of the virus and soften the financial impact. In the U.S., now the site of the largest outbreak in the world, President Trump said Saturday he would issue a "strong" travel advisory for New York, New Jersey and parts of Connecticut.

Go deeperArrowUpdated 8 mins ago - Health
Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 704,095 — Total deaths: 33,509 — Total recoveries: 148,824.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 2 p.m. ET: 132,637 — Total deaths: 2,351 — Total recoveries: 2,612.
  3. Federal government latest: The first federal prisoner to die from coronavirus was reported from a correctional facility in Louisiana on Sunday.
  4. Public health updates: Fauci says 100,000 to 200,000 Americans could die from virus.
  5. State updates: Louisiana governor says state is on track to exceed ventilator capacity by end of this week — Cuomo says Trump's mandatory quarantine comments "really panicked" people
  6. World updates: Italy on Sunday reported 756 new deaths, bringing its total 10,779. Spain reported almost 840 dead, another new daily record that bring its total to over 6,500.
  7. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingArrowUpdated 12 mins ago - Politics & Policy
Jacob Knutson

Cuomo: Trump's mandatory quarantine comments "really panicked people"

New York Gov. Andrew Cuomo said in a press conference Sunday that President Trump's unexpected Saturday announcement of a possible "short-term" quarantine of New York, New Jersey and parts of Connecticut to curb the spread of the coronavirus "really panicked people."

Why it matters: Though Trump ruled out the mandatory quarantine later that day, Cuomo said people still called "all night long" asking about the comments and many likely fled the New York area — possibly spreading the virus further.

Go deeperArrow1 hour ago - Health