Expensive Drugs For Americans In 2024? Drugmakers Including Pfizer, Sanofi Mull Price Increase In January
Portfolio Pulse from Vandana Singh
Major pharmaceutical companies including Pfizer, Sanofi, and Takeda Pharmaceutical are planning to raise prices on over 500 drugs in the U.S. in early January, ahead of the Biden Administration's publication of discounted prices for ten high-cost drugs in September. This move is in response to inflation and increased manufacturing costs. Meanwhile, GSK is set to lower prices on at least 15 drugs in January, following price reductions on specific drugs for 2024. Drug price increases have been kept under 10% since 2019, reflecting a cautious approach by drugmakers.
December 29, 2023 | 3:31 pm
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GSK Plc plans to decrease prices on at least 15 drugs in January, which could positively impact its public image and align with regulatory expectations, but may affect short-term revenues.
GSK's decision to lower drug prices could lead to a decrease in short-term revenue but may improve its standing with consumers and regulators, which could be beneficial in the long run.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Pfizer Inc is among the companies expected to raise drug prices in the U.S. in January, which could lead to increased revenues but also potential backlash from consumers and regulators.
While the price increase may lead to short-term revenue growth for Pfizer, it could also attract negative attention from the public and regulators, which may offset potential gains.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Sanofi SA is preparing to increase prices on drugs in the U.S., which may contribute to higher short-term revenues but could also face regulatory challenges and public scrutiny.
Sanofi's planned price increases could improve revenue, but the company must navigate the risks of regulatory intervention and consumer dissatisfaction.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Takeda Pharmaceutical is set to raise drug prices in the U.S., which might lead to a temporary revenue boost, but could also result in regulatory pushback and negative public perception.
Takeda's impending price hikes could lead to increased revenues, but the company must be wary of the potential for regulatory scrutiny and consumer backlash.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80